Analysts have been eager to weigh in on the Materials sector with new ratings on Alliance Resource (ARLP) and Barrick Gold (GOLD).
Alliance Resource (ARLP)
In a report released today, Lucas Pipes from B.Riley FBR maintained a Hold rating on Alliance Resource, with a price target of $7.00. The company’s shares closed last Friday at $3.58, close to its 52-week low of $2.71.
According to TipRanks.com, Pipes has currently no stars on a ranking scale of 0-5 stars, with an average return of -17.6% and a 34.9% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.
Alliance Resource has an analyst consensus of Moderate Buy, with a price target consensus of $6.00.
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Barrick Gold (GOLD)
In a report released today, Daniel Major from UBS maintained a Buy rating on Barrick Gold, with a price target of $28.00. The company’s shares closed last Friday at $24.50, close to its 52-week high of $25.12.
Major has an average return of 56.1% when recommending Barrick Gold.
According to TipRanks.com, Major is ranked #1482 out of 6440 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Barrick Gold with a $22.80 average price target, representing a -2.7% downside. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $21.00 price target.
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