There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Hudbay Minerals (HBM) and Kinross Gold (KGC) with bullish sentiments.
Hudbay Minerals (HBM)
RBC Capital analyst Sam Crittenden maintained a Buy rating on Hudbay Minerals yesterday and set a price target of C$13.00. The company’s shares closed last Tuesday at $8.19.
According to TipRanks.com, Crittenden is a 5-star analyst with an average return of 33.7% and a 65.6% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Nexa Resources SA.
Currently, the analyst consensus on Hudbay Minerals is a Strong Buy with an average price target of $10.36, implying a 24.8% upside from current levels. In a report issued on May 12, Canaccord Genuity also maintained a Buy rating on the stock with a C$12.00 price target.
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Kinross Gold (KGC)
RBC Capital analyst Josh Wolfson maintained a Buy rating on Kinross Gold on May 17 and set a price target of $10.00. The company’s shares closed last Tuesday at $8.22.
According to TipRanks.com, Wolfson is a 2-star analyst with an average return of 1.5% and a 57.4% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
Kinross Gold has an analyst consensus of Strong Buy, with a price target consensus of $10.69, implying a 28.6% upside from current levels. In a report issued on May 11, Canaccord Genuity also maintained a Buy rating on the stock with a C$13.50 price target.
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