Analysts Are Bullish on Top Materials Stocks: Newmont Mining (NEM), Pan American Silver (PAAS)


There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Newmont Mining (NEM), Pan American Silver (PAAS) and Ero Copper (ERRPF) with bullish sentiments.

Newmont Mining (NEM)

In a report released today, Mike Parkin from National Bank maintained a Buy rating on Newmont Mining, with a price target of C$61.00. The company’s shares closed last Monday at $37.91.

According to TipRanks.com, Parkin has 0 stars on 0-5 star ranking scale with an average return of -7.3% and a 31.0% success rate. Parkin covers the Basic Materials sector, focusing on stocks such as Eldorado Gold, Yamana Gold, and Detour Gold.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Newmont Mining with a $46.36 average price target.

See today’s analyst top recommended stocks >>

Pan American Silver (PAAS)

In a report released today, Don DeMarco from National Bank maintained a Buy rating on Pan American Silver, with a price target of C$31.00. The company’s shares closed last Monday at $18.68, close to its 52-week high of $19.48.

According to TipRanks.com, DeMarco is a 5-star analyst with an average return of 21.2% and a 72.1% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources, Taseko Mines, and SEMAFO.

Pan American Silver has an analyst consensus of Strong Buy, with a price target consensus of $23.15, a 25.9% upside from current levels. In a report issued on November 6, CIBC also maintained a Buy rating on the stock with a $23.00 price target.

Ero Copper (ERRPF)

Raymond James analyst Farooq Hamed maintained a Buy rating on Ero Copper today and set a price target of C$22.00. The company’s shares closed last Monday at $16.15, equals to its 52-week high of $16.15.

According to TipRanks.com, Hamed has 0 stars on 0-5 star ranking scale with an average return of -14.7% and a 31.4% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Hudbay Minerals, and Lundin Mining.

Currently, the analyst consensus on Ero Copper is a Moderate Buy with an average price target of $15.88.

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