Basic materials sector saw double digit decline in Q2

Jul. 01, 2022 2:14 PM ETXLB, SGML, WDFC, SIM, ASH, IOSP, CLF, X, AA, SID, LAC, WOOD, VAW, MXI, XME, GDX, RING, COPX, USO, XOM, UNG, SHEL, BCPC, GCP, MT, GGB, OLN, SGML:CA, LAC:CABy: Niloofer Shaikh, SA News Editor9 Comments

Basic materials sector plunged 16.3% in Q2 and 10% for the past 12 months.

The industry is trading at a PE ratio of 24.3x, lower than its 3-year average PE of 27.1x.

Top five gainers in the basic materials sector in Q2 (stocks with a market cap of over $2B):

  • Sigma Lithium (SGML) +16.84%.
  • WD-40 (WDFC) +8.98%.
  • Grupo Simec (SIM) +4.48%
  • Ashland Global (ASH) +3.71%.
  • Innospec (IOSP) +3%.

Top five decliners in the basic materials sector in Q2 (market cap of over $2B).

  • Cleveland-Cliffs (CLF) -52.16%.
  • United States Steel (X) -51.65%.
  • Alcoa (AA) -50.56%.
  • Companhia Siderurgica (SID) -47.3%.
  • Lithium Americas (LAC) -45.4%.

Other materials ETFs to watch: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF (XLB), Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (RING), Global X Copper Miners ETF (COPX).

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