Basic materials, such as metal, concrete and chemicals, form the backbone of the global economy because every sector requires basic materials. Thus, basic materials stocks are a good addition to one’s portfolio, especially when the economy is growing.
Basic materials stocks performed well last month. In fact, most basic materials stocks were able to offer positive returns to investors. Let’s take a look at the five best and worst performing basic materials stocks in October 2022.
Five Best Performing Basic Materials Stocks In October 2022
We have taken the October return data of basic materials stocks from finviz.com to develop this list of the five best and worst performing basic materials stocks in October 2022. We have only considered basic materials stocks with a market capitalization of more than $10 billion (as of Nov. 1, 2022). Here were the five best performing basic materials stocks in October 2022:
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Corteva (14%)
Founded in 1802 and headquartered in Indianapolis, Ind., this company offers seed and crop protection solutions with a focus on the agriculture industry. Corteva Inc (NYSE:CTVA) shares are up by almost 42% year to date and up almost 16% in the last three months.
As of this writing, Corteva shares are trading above $68 with a 52-week range of $43.74 to $68.43, giving the company a market capitalization of more than $48 billion.
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Reliance Steel & Aluminum (16%)
Founded in 1939 and headquartered in Scottsdale, Ariz., this company deals in metal processing services and distribution of metal products. Reliance Steel & Aluminum Co (NYSE:RS) shares are up by almost 23% year to date and up almost 6% in the last three months.
As of this writing, Reliance Steel shares are trading above $203 with a 52-week range of $145.79 to $211.66, giving the company a market capitalization of more than $11 billion.
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Freeport-McMoRan (16%)
Founded in 1987 and headquartered in Phoenix, Ariz., this company mines copper, gold, and molybdenum. Freeport-McMoRan Inc (NYSE:FCX) shares are down by over 24% year to date but are up over 4% in the last three months.
As of this writing, Freeport-McMoRan shares are trading above $33 with a 52-week range of $24.80 to $51.99, giving the company a market cap of more than $44 billion.
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Nucor (23%)
Founded in 1905 and headquartered in Charlotte, N.C., this company makes steel and steel products. Nucor Corporation (NYSE:NUE) shares are up by almost 13% year to date but are down almost 6% in the last three months.
As of this writing, Nucor shares are trading above $132 with a 52-week range of $88.50 to $187.90, giving the company a market capitalization of more than $33 billion.
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Steel Dynamics (33%)
Founded in 1993 and headquartered in Fort Wayne, Ind., this company deals in making steel products, as well as metal recycling. Steel Dynamics, Inc. (NASDAQ:STLD) shares are up by over 47% year to date and up over 16% in the last three months.
As of this writing, Steel Dynamics shares are trading above $93 with a 52-week range of $50.54 to $100.39, giving the company a market cap of more than $16 billion.
Five Worst Performing Basic Materials Stocks In October 2022
These were the five worst performing basic materials stocks in October 2022:
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Vulcan Materials (4%)
Founded in 1909 and headquartered in Birmingham, AL, this company supplies basic materials to the infrastructure and construction industries. Vulcan Materials Company (NYSE:VMC) shares are down by almost 19% year to date and down almost 2% in the last three months.
As of this writing, Vulcan Materials shares are trading above $166 with a 52-week range of $137.54 to $213.65, giving the company a market capitalization of more than $21 billion.
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PPG Industries (3%)
Founded in 1883 and headquartered in Pittsburgh, Pa., this company makes and distributes paints, coatings, and specialty materials. PPG Industries, Inc. (NYSE:PPG) shares are down by over 36% year to date and down almost 14% in the last three months.
As of this writing, PPG Industries shares are trading at above $111 with a 52-week range of $107.06 to $177.32, giving the company a market cap of more than $25 billion.
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Avantor (3%)
Founded in 1904 and headquartered in Radnor, Pa., this company provides mission critical products and services to biopharma, healthcare, education, advanced technologies and applied materials industries. Avantor Inc (NYSE:AVTR) shares are down by over 54% year to date and down over 32% in the last three months.
As of this writing, Avantor shares are trading above $19 with a 52-week range of $17.91 to $42.48, giving the company a market capitalization of more than $12 billion.
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LyondellBasell Industries N.V. (2%)
Founded in 2007 and headquartered in London, this company deals in the refinery and production of plastic resins and other chemicals. LyondellBasell Industries NV (NYSE:LYB) shares are down by almost 16% year to date and down over 9% in the last three months.
As of this writing, LyondellBasell shares are trading above $78 with a 52-week range of $71.46 to $117.22, giving the company a market capitalization of more than $25 billion.
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Newmont (1%)
Founded in 1921 and headquartered in Denver, Colo., this company primarily explores and acquires gold properties. Newmont Corporation (NYSE:NEM) shares are down by over 39% year to date and down almost 16% in the last three months.
As of this writing, Newmont shares are trading above $38 with a 52-week range of $37.45 to $86.37, giving the company a market cap of more than $31 billion.
This article originally appeared on ValueWalk
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