There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Barrick Gold (GOLD) and B2Gold (BTG) with bullish sentiments.
Barrick Gold (GOLD)
In a report released yesterday, Brian MacArthur from Raymond James reiterated a Buy rating on Barrick Gold, with a price target of C$36.00. The company’s shares closed last Friday at $23.14.
According to TipRanks.com, MacArthur is a 4-star analyst with an average return of 5.2% and a 48.1% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Hudbay Minerals.
Currently, the analyst consensus on Barrick Gold is a Strong Buy with an average price target of $31.43, representing a 33.3% upside. In a report issued on January 4, RBC Capital also maintained a Buy rating on the stock with a $31.00 price target.
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B2Gold (BTG)
Raymond James analyst Farooq Hamed maintained a Buy rating on B2Gold yesterday and set a price target of C$8.00. The company’s shares closed last Friday at $5.04.
According to TipRanks.com, Hamed ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -11.1% and a 35.1% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Lundin Mining, and Ivanhoe Mines.
B2Gold has an analyst consensus of Strong Buy, with a price target consensus of $8.91.
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