PKX, TS, MT And BTU, Pushing Metals & Mining Industry Downward
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 up today with the Dow Jones Industrial Average (^DJI) trading up 15 points (0.1%) at 14,565 as of Thursday, April 4, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,512 issues advancing vs. 1,354 declining with 153 unchanged.
The Metals & Mining industry currently sits up 0.6% versus the S&P 500, which is up 0.1%. Top gainers within the industry include New Gold (NGD), up 4.9%, Gold Fields (GFI), up 2.8%, Yamana Gold (AUY), up 2.1%, Anglogold Ashanti (AU), up 2.2% and Silver Wheaton Corporation (SLW), up 1.6%.
TheStreet Ratings group would like to highlight 4 stocks pushing the industry lower today:
4. POSCO (PKX) is one of the companies pushing the Metals & Mining industry lower today. As of noon trading, POSCO is down $0.74 (-1.0%) to $70.79 on light volume Thus far, 94,206 shares of POSCO exchanged hands as compared to its average daily volume of 262,100 shares. The stock has ranged in price between $70.68-$71.41 after having opened the day at $71.21 as compared to the previous trading day's close of $71.53.
POSCO engages in the manufacture and sale of steel products in Korea and internationally. POSCO has a market cap of $22.1 billion and is part of the basic materials sector. The company has a P/E ratio of 5.8, below the S&P 500 P/E ratio of 17.7. Shares are down 12.9% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate 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.
Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.