3 Stocks Pushing The Metals & Mining Industry Lower
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
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.
TheStreet Ratings rates POSCO as a hold. Among the primary strengths of the company is its attractive valuation levels, considering its current price compared to earnings, book value and other measures. At the same time, however, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and a generally disappointing performance in the stock itself. Get the full POSCO Ratings Report now.
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2. As of noon trading, Nucor ( NUE) is down $0.41 (-0.9%) to $44.77 on light volume Thus far, 858,072 shares of Nucor exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $44.71-$45.56 after having opened the day at $45.47 as compared to the previous trading day's close of $45.18.