Large Cap Basic Materials Stocks are Trading Higher
In the midst of a broad rally of stocks, stocks in the Basic Materials sector are trading sharply higher. Mid-cap stocks are bouncing the most in percentage terms: Aluminum Corp. of China (NYSE:ACH) us up 10.22% to $13.37, NN Inc. (NASDAQ:NNBR) is up 8.45% to $6.90, Richmont Mines Inc. (AMEX:RIC) is up 8.14% to $10.98, Northern Dynasty Minerals (AMEX:NAK) is up 6.3% to $7.66, and Olympic Steel Inc. (NASDAQ:ZEUS) is up 6.28% to $19.29.
Large cap stocks are also up, but by smaller percentages. Following is a quick look at some of the news stories moving these stocks today.
- Alcoa, Inc. (NYSE:AA): Shares of Alcoa, Inc. are trading lower today on news that the company’s Q3 profit missed expectations. The shares recently traded at $9.90, down $0.40, or 3.83%, on the day. The shares have traded in a 52-week range of $8.45 to $18.47 and its market capitalization is $10.54 billion. About the company: Alcoa, Inc. produces primary aluminum, fabricated aluminum, and alumina, and participates in mining, refining, smelting, fabricating, and recycling. The Company serves customers worldwide primarily in the transportation, packaging, building, and industrial markets with both fabricated and finished products.
- Freeport-McMoRan Copper (NYSE:FCX): Shares of Freeport-McMoRan Copper are trading higher on suspicion that the economy is beginning to recover and so demand for its raw materials will increase. The shares recently traded at $37, up $1.80, or 5.11%, on the day. The shares have traded in a 52-week range of $28.85 to $61.35, and its market capitalization is $35.04 billion. About the company: Freeport-McMoRan Copper & Gold, Inc. through its subsidiary, is a copper, gold and molybdenum mining company. The Company primarily mines for copper and owns mining interests in Chile and Indonesia. Freeport-McMoRan Copper & Gold also, through a subsidiary, is involved in smelting and refining of copper concentrates.
- Potash Corp./Saskatchewan (NYSE:POT): Shares of Potash Corp. are trading higher today on news that demand for the company’s agricultural products is due to increase. The shares recently traded at $48.78, up $0.75, or 1.56%, on the day. The shares have traded in a 52-week range of $39.54 to $63.97 and its market capitalization is $41.75 billion. About the company: Potash Corporation of Saskatchewan, Inc. produces potash, phosphate, and nitrogen to the agricultural and industrial industries worldwide. The Company conducts operations in Canada, Chile, the United States, Brazil, and Trinidad.
- The Mosaic Company (NYSE:MOS): Shares of the Mosaic Company are trading higher today, after Fitch reaffirmed its BBB rating on the company’s debt, citing its “low leverage, healthy cash generation and favorable business prospects.” The shares recently traded at $56.10, up $0.33, or 0.61%, on the day. The shares have traded in a 52-week range of $44.86 to $89.24 and its market capitalization is $25.05 billion. About the company: The Mosaic Company produces and distributes crop nutrients to the agricultural communities located in North America and other countries. The Company’s principal products include concentrated phosphates, and potash.
- Monsanto Company (NYSE:MON): Shares of Monsanto are trading higher today, in spite of Check out our interactive stock charts, fundamentals, Twitter stream, and more >>
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