3 Stocks Pushing The Metals & Mining Industry Lower
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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading down 57 points (-0.4%) at 13,942 as of Monday, Feb. 25, 2013, 12:05 PM ET. The NYSE advances/declines ratio sits at 1,301 issues advancing vs. 1,576 declining with 144 unchanged.
The Metals & Mining industry currently sits up 0.6% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the industry include Tenaris (TS), down 1.5%, and Freeport-McMoRan Copper & Gold (FCX), down 1.3%.
TheStreet Ratings group would like to highlight 3 stocks pushing the industry lower today:
3. POSCO (PKX) is one of the companies pushing the Metals & Mining industry lower today. As of noon trading, POSCO is down $0.99 (-1.2%) to $81.84 on average volume Thus far, 86,185 shares of POSCO exchanged hands as compared to its average daily volume of 217,800 shares. The stock has ranged in price between $81.82-$82.69 after having opened the day at $82.60 as compared to the previous trading day's close of $82.83.
POSCO engages in the manufacture and sale of steel products in Korea and internationally. POSCO has a market cap of $25.5 billion and is part of the basic materials sector. The company has a P/E ratio of 6.7, below the S&P 500 P/E ratio of 17.7. Shares are up 0.4% year to date as of the close of trading on Friday. Currently there is 1 analyst that rates POSCO a buy, no analysts rate it a sell, and none rate it a hold.