There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Alamos Gold (AGI) and B2Gold (BTG) with bullish sentiments.
Alamos Gold (AGI)
In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Alamos Gold, with a price target of C$12.00. The company’s shares closed last Wednesday at $8.25, close to its 52-week high of $8.32.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 6.7% and a 49.5% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alamos Gold with a $7.46 average price target, implying a -8.8% downside from current levels. In a report issued on April 23, National Bank also upgraded the stock to Buy with a $11.75 price target.
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B2Gold (BTG)
In a report released yesterday, Carey MacRury from Canaccord Genuity maintained a Buy rating on B2Gold, with a price target of C$9.00. The company’s shares closed last Wednesday at $5.33, close to its 52-week high of $5.54.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 23.5% and a 76.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
B2Gold has an analyst consensus of Strong Buy, with a price target consensus of $5.35, which is a 2.1% upside from current levels. In a report issued on April 14, Cormark Securities also maintained a Buy rating on the stock with a C$7.00 price target.
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