Analysts have been eager to weigh in on the Materials sector with new ratings on Centerra Gold (CGAU) and Cronos Group (CRON).
Centerra Gold (CGAU)
In a report issued on May 7, Dalton Baretto from Canaccord Genuity downgraded Centerra Gold to Hold, with a price target of C$11.50. The company’s shares closed last Friday at $6.92, close to its 52-week low of $6.79.
According to TipRanks.com, Baretto is a top 100 analyst with an average return of 34.7% and a 61.7% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Hecla Mining Company.
Currently, the analyst consensus on Centerra Gold is a Hold with an average price target of $13.68.
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Cronos Group (CRON)
Canaccord Genuity analyst Matt Bottomley maintained a Sell rating on Cronos Group on May 7 and set a price target of C$7.50. The company’s shares closed last Friday at $7.69.
According to TipRanks.com, Bottomley is a 5-star analyst with an average return of 31.5% and a 55.9% success rate. Bottomley covers the Basic Materials sector, focusing on stocks such as Acreage Holdings Inc Class D, Harvest Health & Recreation, and Vireo Health International.
The word on The Street in general, suggests a Hold analyst consensus rating for Cronos Group with a $9.49 average price target, a 32.0% upside from current levels. In a report issued on April 28, Merrill Lynch also resumed coverage with a Sell rating on the stock with a $7.50 price target.
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