There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Teranga Gold (TGCDF) and First Quantum Minerals (FQVLF) with bullish sentiments.
Teranga Gold (TGCDF)
In a report released today, Craig Stanley from Raymond James maintained a Buy rating on Teranga Gold, with a price target of C$19.50. The company’s shares closed last Tuesday at $11.69, close to its 52-week high of $12.82.
Stanley has an average return of 3.1% when recommending Teranga Gold.
According to TipRanks.com, Stanley is ranked #2249 out of 6927 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teranga Gold with a $15.00 average price target.
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First Quantum Minerals (FQVLF)
In a report released today, Greg Barnes from TD Securities maintained a Buy rating on First Quantum Minerals, with a price target of C$16.50. The company’s shares closed last Tuesday at $9.94, close to its 52-week high of $10.90.
According to TipRanks.com, Barnes is a 2-star analyst with an average return of 0.2% and a 47.3% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Hudbay Minerals, and Teck Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Quantum Minerals with a $12.21 average price target, implying a 19.5% upside from current levels. In a report issued on September 8, Jefferies also maintained a Buy rating on the stock with a C$20.00 price target.
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