Published August 23, 2012
During trading today, the Basic Materials sector (XLB) showed little change while the S&P 500 fell 0.8%.
The ETF, as a proxy for the sector, tracked farther from the overall market today than over the past month. As trading began today, XLB was up 4.6% over the last thirty trading days while the S&P 500 climbed 5%.
Avino Silver & Gold Mines (ASM) was a major gainer in the sector, rising 11.6% (+17 cents) to close at $1.64 with 95,187 shares moving. The stock traded in a range of $1.50 to $1.65.
US Steel (X) fell 6.9% to close at $21.19, crossing its 50-day moving average of $21.22. Meanwhile, Keegan Resources (KGN) climbed 10.9% to close at $3.56, moving past its 200-day moving average of $3.39.
Compania de Minas Buenaventura (BVN) rose 2.5% to close at $34.21, approaching its 50-day moving average of $35.37. It has also moved closer to its 200-day moving average of $38.29. Allegheny Technologies Incorporated (CRS) fell 4.8% to close at $31.41, moving closer to its 50-day moving average of $31.19. Also, the stock moved closer to its 200-day moving average of $49.53.
Metals USA Holdings (MUSA) was one of the sector's big losers, as its price dropped 6.9% (-$1.02) to close at $13.67. 408,788 shares of the stock moved. The stock traded in a range of $13.64 to $14.84. The share price has dropped $1.76 (-11.4%) from $15.43 on July 25, 2012.
Royal Gold (RGLD) hit a new 52-week high today, reaching $85.03 to top the previous high of $83.87.