Investors reacted negatively to the Basic Materials stocks on Wednesday. Major movements were seen in AuRico Gold Inc. (USA) (NYSE:AUQ) and Keegan Resources Inc. (NYSEAMEX: KGN) on gainers side while Ferro Corporation (NYSE:FOE) and Universal Stainless & Alloy Products (NASDAQ:USAP) were prominent stocks on the losers side.
Billionaire Carlos Slim’s, the world’s richest person according to the Bloomberg Billionaires Index, Minera Frisco SAB decided to purchase mining assets in Mexico from AuRico Gold Inc. (USA) (NYSE:AUQ) for $750 million in what would be the biggest gold accord involving a Mexican corporation.
Both companies reported in separate statements on Wednesday that AuRico will vend properties comprising the Ocampo mine and Venus and Los Jarros projects in northern Chihuahua state and a 50% stake in the Orion project in Nayarit state.
AuRico Gold Inc. (USA)’s YTD performance was recorded as -3.37% while its market capitalization was $2.18 billion. The company has P/B ratio of 0.96 while P/E ratio was booked as 14.33. Institutional ownership owns 44.74% shares of the company while beta factor, which is used to measure riskiness of the security, was 1.07. Net profit margin of the company was 36.96% while its gross profit margin was 48.89%.
Alcoa Inc. (NYSE:AA)’s stock plunged on Wednesday after the aluminum maker announced a loss in the third-quarter and shattered its 2012 guidance for growth in aluminum demand.
Alcoa reported on Tuesday that it lost $143 million or 13 cents per share in the three months period through July to September, mainly because of special charges.
The company reported adjusted earnings of 3 cents a share surpass Wall Street’s forecasts. Revenue moved down to $5.83 billion from $6.42 billion but still surpassed analyst estimates.
Alcoa Inc. has market capitalization of $9.29 billion. Its current ratio was 1.26 while its shares were lagging behind SMA50 with -1.85. The company offered earnings per share of -0.23 while its 1.07 billion shares were outstanding. YTD performance of the stock was 1.63%.
Timmins Gold Corp Common Shares (Canada) (NYSE:TGD) has the market capitalization of $401.78 million. The company’s EPS was 0.16 while its 142.98 million shares were outstanding. Shares of the company were moving ahead of SMA50 with 10.65% while its YTD performance was 46.95%.
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