Basic Materials Sector Wrap

Markets FOXBusiness

The Basic Materials sector (XLB) showed little movement on a trading day that saw S&P 500 fall 0.4%.

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Increasing 12.7% (+20 cents) to close at $1.77, Mines Management (MGN) was a major gainer in the sector. Today, 79,971 shares traded hands. The stock traded in a range of $1.58 to $1.80. Shares are up, having risen 28 cents (18.8%) from a price of $1.49 on April 23, 2012.

Arabian American Development Company (ARSD) was a major loser in the sector, falling 10.3% (-$1) to close at $8.73 with 159,615 shares moving. The stock traded in a range of $8.69 to $9.50.

New Gold (NGD) declined 9.2% to close at $9.10, moving below its 50-day moving average of $9.81 and 200-day moving average of $10.72. Golden Minerals (AUMN) rose 5.7% to close at $7.47, crossing its 50-day moving average of $7.28.

Compania de Minas Buenaventura (BVN) fell 2.4% to close at $41.27, moving closer to its 50-day moving average of $40.65. Also, the stock moved closer to its 200-day moving average of $40.66.

Penford Corporation (PENX) hit a new 52-week high today, reaching $8.30 to top the previous high of $7.96.

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