There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Roxgold (ROGFF) and Equinox Gold (EQX) with bullish sentiments.
Roxgold (ROGFF)
Raymond James analyst Craig Stanley maintained a Buy rating on Roxgold yesterday and set a price target of C$2.40. The company’s shares closed last Wednesday at $1.31, close to its 52-week high of $1.48.
According to TipRanks.com, Stanley is a 3-star analyst with an average return of 6.8% and a 54.5% success rate. Stanley covers the Basic Materials sector, focusing on stocks such as SilverCrest Metals, Marathon Gold, and Teranga Gold.
Currently, the analyst consensus on Roxgold is a Strong Buy with an average price target of $1.90.
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Equinox Gold (EQX)
National Bank analyst John Sclodnick maintained a Buy rating on Equinox Gold yesterday and set a price target of C$20.25. The company’s shares closed last Wednesday at $10.02.
According to TipRanks.com, Sclodnick is a 3-star analyst with an average return of 10.6% and a 56.3% success rate. Sclodnick covers the Basic Materials sector, focusing on stocks such as SilverCrest Metals, Newmont Mining, and Argonaut Gold.
Equinox Gold has an analyst consensus of Strong Buy, with a price target consensus of $17.56, which is a 73.5% upside from current levels. In a report issued on October 27, Scotiabank also maintained a Buy rating on the stock with a C$19.25 price target.
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