There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on SSR Mining (SSRM) and Cleveland-Cliffs (CLF) with bullish sentiments.
SSR Mining (SSRM)
In a report issued on May 15, Adam Graf from B.Riley FBR maintained a Buy rating on SSR Mining, with a price target of $45.00. The company’s shares closed last Friday at $21.31, close to its 52-week high of $21.46.
According to TipRanks.com, Graf is a 4-star analyst with an average return of 6.7% and a 51.2% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures, First Majestic Silver, and Hecla Mining Company.
SSR Mining has an analyst consensus of Strong Buy, with a price target consensus of $24.63, which is a 25.0% upside from current levels. In a report issued on May 11, Canaccord Genuity also maintained a Buy rating on the stock with a C$27.00 price target.
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Cleveland-Cliffs (CLF)
In a report issued on May 15, Lucas Pipes from B.Riley FBR reiterated a Buy rating on Cleveland-Cliffs, with a price target of $10.00. The company’s shares closed last Friday at $4.10, close to its 52-week low of $2.63.
According to TipRanks.com, Pipes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -19.2% and a 32.6% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Novagold Resources New, US Silica Holdings, and Hi-Crush Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cleveland-Cliffs with a $6.58 average price target.
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