Analysts have been eager to weigh in on the Materials sector with new ratings on PBF Energy (NYSE:PBF) and New Gold Inc (NYSE:NGD).
PBF Energy (PBF)
Citigroup analyst Prashant Rao maintained a Hold rating on PBF Energy today and set a price target of $50. The company’s shares closed yesterday at $47.38, close to its 52-week high of $51.42.
According to TipRanks.com, Rao is ranked #1751 out of 4857 analysts.
Currently, the analyst consensus on PBF Energy is a Moderate Buy with an average price target of $55.67, which is a 17.5% upside from current levels. In a report issued on August 2, RBC Capital also reiterated a Hold rating on the stock with a $46 price target.
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New Gold Inc (NGD)
In a report released today, Dan Rollins from RBC Capital downgraded New Gold Inc to Sell. The company’s shares closed yesterday at $1.10, equals to its 52-week low of $1.10.
Rollins has an average return of 33.9% when recommending New Gold Inc.
According to TipRanks.com, Rollins is ranked #4787 out of 4857 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for New Gold Inc with a $2 average price target.
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