There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Centerra Gold (CAGDF) and Franco Nev (FNV) with bullish sentiments.
Centerra Gold (CAGDF)
In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Centerra Gold, with a price target of C$22.00. The company’s shares closed last Wednesday at $9.87.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 17.7% and a 58.7% 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 Strong Buy analyst consensus rating for Centerra Gold with a $15.30 average price target, a 57.6% upside from current levels. In a report issued on October 22, National Bank also maintained a Buy rating on the stock with a C$17.00 price target.
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Franco Nev (FNV)
Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Franco Nev yesterday and set a price target of C$220.00. The company’s shares closed last Wednesday at $139.95.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 24.6% and a 73.1% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Golden Star Resources.
Franco Nev has an analyst consensus of Hold, with a price target consensus of $149.49, representing a 6.0% upside. In a report issued on October 20, TD Securities also upgraded the stock to Buy with a C$190.00 price target.
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