Metals & Mining Industry Gains Amidst Market Fluctuations

Strategic Insights -

The metals & mining industry saw a notable gain, with two out of three major indices trading up on August 14, 2015. The Dow Jones Industrial Average (^DJI) was up 22 points (0.1%) at 17,430, while the NYSE advances/declines ratio sat at 1,691 issues advancing vs. 1,250 declining with 211 unchanged.

Key Takeaways:

  • The metals & mining industry recorded a 0.2% gain, with the S&P 500 up by the same margin.
  • Top gainers within the industry included Nucor (NUE), Consol Energy (CNX), and Steel Dynamics (STLD), each up over 1%.
  • On the negative front, top decliners included Goldcorp (GG), Barrick Gold (ABX), Newmont Mining (NEM), Turquoise Hill Resources (TRQ), and ArcelorMittal (MT), each down 0.7-1.3%.
  • Three notable stocks driving the industry higher were Worthington Industries (WOR), Eldorado Gold (EGO), and Reliance Steel and Aluminum (RS), each gaining 3-3.9% as of noon trading.

Statistics:

  • The Dow Jones Industrial Average (^DJI) was up 22 points (0.1%) at 17,430.
  • The NYSE advances/declines ratio sat at 1,691 issues advancing vs. 1,250 declining with 211 unchanged.
  • Nucor (NUE) was up 1.8%, Consol Energy (CNX) was up 1.8%, and Steel Dynamics (STLD) was up 1.5% as of noon trading.
  • Worthington Industries (WOR) was up $0.82 (3.0%) to $27.80 on light volume.
  • Eldorado Gold (EGO) was up $0.18 (4.7%) to $3.99 on heavy volume.
  • Reliance Steel and Aluminum (RS) was up $1.94 (3.3%) to $61.13 on average volume.

Sources:

  • TheStreet Wire
  • Dow Jones Industrial Average (^DJI)
  • NYSE advances/declines ratio
  • Nucor (NUE) stock price
  • Consol Energy (CNX) stock price
  • Steel Dynamics (STLD) stock price
  • Worthington Industries (WOR) stock price
  • Eldorado Gold (EGO) stock price
  • Reliance Steel and Aluminum (RS) stock price
  • SPDR S&P Metals & Mining ETF (XME)
  • PowerShares DB Base Metals Sht ETN (BOS)