Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Tetra Technologies (TTI) and SSR Mining Inc (SSRM).
Tetra Technologies (TTI)
In a report released today, Tom Curran from B.Riley FBR maintained a Buy rating on Tetra Technologies, with a price target of $5. The company’s shares closed on Friday at $2.06.
Curran wrote:
“Given what we’ve learned from TTI’s 1Q19 adjusted EBITDA miss and last two calls, we are cutting our estimates and price target to reflect (1) the costs and risks that Water & Flowback confronts in trying to strategically rebalance its customer mix while both preserving key existing and cultivating vital new relationships; and (2) a slower ramp in CS Neptune sales for 2019-20. We’re revising our revenue/EBITDA for 2019 from $1,099M/$198.4M to $1,107M/$187.2M and for 2020 from $1,200M/$245.0M to $1,187M/$233.9M. Due to these changes and our new assumptions for the Compression division (CCLP), we are also reducing our sum-of-the-parts derived price target from $7.00 to $5.00. We maintain our Buy rating on compelling risk-reward.”
According to TipRanks.com, Curran is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.3% and a 38.4% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Solaris Oilfield Infrastructure Inc, Independence Contract Drilling, and Select Energy Services Inc.
Tetra Technologies has an analyst consensus of Strong Buy, with a price target consensus of $4.56, a 121.4% upside from current levels. In a report issued on May 10, Stifel Nicolaus also maintained a Buy rating on the stock with a $4 price target.
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SSR Mining Inc (SSRM)
In a report issued on May 10, Adam Graf from B.Riley FBR maintained a Hold rating on SSR Mining Inc, with a price target of $14.70. The company’s shares closed on Friday at $10.73.
Graf wrote:
“the market close, SSR Mining reported adjusted EPS of $0.14/sh ($0.05/ sh before items), vs. and our forecast of $0.06/sh. Results benefited from strong sales volumes and cost performance at Canadian operations, steady production in Nevada, and the full ramp-up of new operations in Argentina. During the quarter, SSRM issued $230M of unsecured convertible senior notes. We maintain our Neutral rating and $14.70 PT.”
According to TipRanks.com, Graf has currently no stars on a ranking scale of 0-5 stars, with an average return of -16.9% and a 13.8% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, First Majestic Silver, and Hecla Mining Company.
SSR Mining Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.39.
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