There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on First Quantum Minerals (FQVLF) and Precision Drilling (PDS) with bullish sentiments.
First Quantum Minerals (FQVLF)
In a report issued on March 24, Farooq Hamed from Raymond James maintained a Buy rating on First Quantum Minerals, with a price target of C$14.00. The company’s shares closed last Monday at $5.02.
According to TipRanks.com, Hamed is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -21.9% and a 26.6% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as Hudbay Minerals, Lundin Mining, and OceanaGold.
Currently, the analyst consensus on First Quantum Minerals is a Moderate Buy with an average price target of $10.69.
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Precision Drilling (PDS)
In a report released yesterday, Andrew Bradford from Raymond James maintained a Buy rating on Precision Drilling, with a price target of C$0.80. The company’s shares closed last Monday at $0.33, close to its 52-week low of $0.27.
According to TipRanks.com, Bradford is ranked #5998 out of 6169 analysts.
Currently, the analyst consensus on Precision Drilling is a Moderate Buy with an average price target of $1.60, a 357.1% upside from current levels. In a report issued on March 24, RBC Capital also maintained a Buy rating on the stock with a C$1.25 price target.
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