There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Cameco (CCJ) and Lundin Mining (LUNMF) with bullish sentiments.
Cameco (CCJ)
Raymond James analyst Brian MacArthur reiterated a Buy rating on Cameco yesterday and set a price target of C$22.00. The company’s shares closed last Tuesday at $16.79.
According to TipRanks.com, MacArthur is a 4-star analyst with an average return of 6.9% and a 50.1% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Freeport-McMoRan.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cameco with a $18.47 average price target, implying a 10.3% upside from current levels. In a report issued on April 12, Cantor Fitzgerald also upgraded the stock to Buy with a $18.50 price target.
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Lundin Mining (LUNMF)
CIBC analyst Bryce Adams reiterated a Buy rating on Lundin Mining yesterday and set a price target of C$15.00. The company’s shares closed last Tuesday at $10.97.
According to TipRanks.com, Adams is a 4-star analyst with an average return of 17.7% and a 62.7% success rate. Adams covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Torex Gold Resources, and Capstone Mining.
Currently, the analyst consensus on Lundin Mining is a Hold with an average price target of $11.59, implying a 10.4% upside from current levels. In a report issued on April 12, Deutsche Bank also maintained a Buy rating on the stock with a C$16.00 price target.
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