Analysts have been eager to weigh in on the Materials sector with new ratings on First Quantum Minerals (FQVLF), Kirkland Lake Gold (KL) and TC Energy (TRP).
First Quantum Minerals (FQVLF)
In a report released today, Oscar Cabrera from CIBC maintained a Buy rating on First Quantum Minerals, with a price target of C$10.00. The company’s shares closed last Wednesday at $4.61, close to its 52-week low of $3.33.
According to TipRanks.com, Cabrera ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -23.3% and a 24.5% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, Nexa Resources SA, and Freeport-McMoRan.
Currently, the analyst consensus on First Quantum Minerals is a Moderate Buy with an average price target of $10.51, which is an 117.3% upside from current levels. In a report issued on March 27, Citigroup also upgraded the stock to Buy with a C$11.00 price target.
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Kirkland Lake Gold (KL)
In a report released today, Brian Quast from BMO Capital maintained a Hold rating on Kirkland Lake Gold, with a price target of C$61.00. The company’s shares closed last Wednesday at $29.23.
According to TipRanks.com, Quast is a 1-star analyst with an average return of -6.7% and a 34.5% success rate. Quast covers the Basic Materials sector, focusing on stocks such as Saracen Mineral Holdings, Northern Star Resources, and Argonaut Gold.
Currently, the analyst consensus on Kirkland Lake Gold is a Moderate Buy with an average price target of $40.92.
TC Energy (TRP)
In a report released today, Patrick Kenny from National Bank maintained a Buy rating on TC Energy, with a price target of C$70.00. The company’s shares closed last Wednesday at $40.81.
Kenny has an average return of 24.6% when recommending TC Energy.
According to TipRanks.com, Kenny is ranked #2222 out of 6239 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TC Energy with a $49.92 average price target, a 16.3% upside from current levels. In a report issued on March 20, Industrial Alliance Securities also upgraded the stock to Buy with a C$65.00 price target.
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