- Basic Materials stocks recorded a marginal drop this week, with the iShares U.S. Basic Materials ETF -2.3%.
- The top five outperformers in the basic materials sector (of stocks with a market cap of $300M+) for the week ending June 11, 2021:
- Marron Bio Innovations (NASDAQ:MBII):+32.35%
- U.S. Concrete (NASDAQ:USCR):+29.05%. Stock gained ~30% on June 7, 2021 after Vulcan Materials (NYSE:VMC) agreed to acquire the company for $74/share.
- Zymergen (NASDAQ:ZY):+25.83%. Company's revenue grew 26% Y/Y in Q1, driven by the impact of new and acquired contracts.
- Gatos Silver (NYSE:GATO):+20.60%
- McEwen Mining Inc (NYSE:MUX):+11.72%
- The week's top five losers among Basic Materials stocks ($300M market cap or more) were:
- Resolute Forest Products (NYSE:RFP): -9.89%. Lumber futures fell 18% this week in the biggest weekly decline for most-active futures in records going back to 1986, as analysts say buyers are balking at still historically high prices and awaiting additional supplies. The company announced $1.00/share special dividend and an additional capital investments of $50M in its wood products operations to support continued growth.
- Warrior Met Coal (NYSE:HCC): -6.7%.
- Compañía de Minas Buenaventura (NYSE:BVN):-5.85%. Company among the many Peruvian stocks that registered a decline amid tight presidential election in Peru.
- Kronos Worldwide (NYSE:KRO): -4.03%.
- The Mosaic Company (NYSE:MOS): -3.49%. In the past week, company announced plans to close its K1 and K2 potash mine shafts at Esterhazy, Saskatchewan, and resume production at its Colonsay potash mine to partly offset the closures. Expects to incur $150M-$225M in various related charges in Q2.
- Few other materials ETFs to watch: Materials Select Sector SPDR ETF (NYSEARCA:XLB), Materials Select Sector SPDR ETF, Vanguard Materials ETF (NYSEARCA:VAW), iShares Global Materials ETF (NYSEARCA:MXI)