Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Freeport-McMoRan (FCX), Vale SA (VALE) and Kirkland Lake Gold (KL).
Freeport-McMoRan (FCX)
RBC Capital analyst Sam Crittenden maintained a Hold rating on Freeport-McMoRan on March 21 and set a price target of $40.00. The company’s shares closed last Thursday at $31.11.
According to TipRanks.com, Crittenden is a 4-star analyst with an average return of 18.4% and a 56.6% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Nexa Resources SA.
Currently, the analyst consensus on Freeport-McMoRan is a Moderate Buy with an average price target of $36.75, representing a 21.2% upside. In a report issued on March 12, Barclays also maintained a Hold rating on the stock with a $29.00 price target.
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Vale SA (VALE)
In a report issued on March 21, Tyler Broda from RBC Capital maintained a Buy rating on Vale SA, with a price target of $25.00. The company’s shares closed last Thursday at $16.34.
According to TipRanks.com, Broda is a 3-star analyst with an average return of 5.4% and a 53.2% success rate. Broda covers the Basic Materials sector, focusing on stocks such as Sibanye Stillwater, Anglogold Ashanti, and Gold Fields.
Vale SA has an analyst consensus of Strong Buy, with a price target consensus of $23.29, which is a 41.0% upside from current levels. In a report issued on March 19, Societe Generale also maintained a Buy rating on the stock with a $25.50 price target.
Kirkland Lake Gold (KL)
RBC Capital analyst Josh Wolfson maintained a Buy rating on Kirkland Lake Gold on March 23 and set a price target of $44.00. The company’s shares closed last Thursday at $32.80, close to its 52-week low of $28.70.
According to TipRanks.com, Wolfson is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -2.9% and a 44.1% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Newmont Mining.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kirkland Lake Gold with a $50.20 average price target, implying a 53.1% upside from current levels. In a report issued on March 15, Canaccord Genuity also maintained a Buy rating on the stock with a C$70.00 price target.
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