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)
Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Hudbay Minerals yesterday and set a price target of C$12.00. The company’s shares closed last Tuesday at $9.26, close to its 52-week high of $9.60.
According to TipRanks.com, Baretto is a top 100 analyst with an average return of 35.1% and a 61.2% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Hecla Mining Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hudbay Minerals with a $10.36 average price target, a 19.9% upside from current levels. In a report issued on April 27, Credit Suisse also maintained a Buy rating on the stock with a C$13.00 price target.
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Kinross Gold (KGC)
In a report released yesterday, Carey MacRury from Canaccord Genuity maintained a Buy rating on Kinross Gold, with a price target of C$13.50. The company’s shares closed last Tuesday at $7.66.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 20.3% and a 73.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Golden Star Resources.
Kinross Gold has an analyst consensus of Strong Buy, with a price target consensus of $10.66, a 41.2% upside from current levels. In a report issued on April 27, J.P. Morgan also maintained a Buy rating on the stock with a C$12.00 price target.
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