Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Hecla Mining Company (HL), Canopy Growth (CGC) and Torex Gold Resources (TORXF).
Hecla Mining Company (HL)
In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Hold rating on Hecla Mining Company, with a price target of $5.75. The company’s shares closed last Thursday at $6.33.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 28.7% 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.
Currently, the analyst consensus on Hecla Mining Company is a Moderate Buy with an average price target of $6.38.
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Canopy Growth (CGC)
Canaccord Genuity analyst Matt Bottomley maintained a Sell rating on Canopy Growth yesterday and set a price target of C$32.00. The company’s shares closed last Thursday at $28.50.
According to TipRanks.com, Bottomley is a 5-star analyst with an average return of 28.6% and a 53.4% success rate. Bottomley covers the Basic Materials sector, focusing on stocks such as Acreage Holdings Inc Class D, Harvest Health & Recreation, and Vireo Health International.
Currently, the analyst consensus on Canopy Growth is a Hold with an average price target of $37.74.
Torex Gold Resources (TORXF)
In a report released yesterday, Kevin MacKenzie from Canaccord Genuity reiterated a Buy rating on Torex Gold Resources, with a price target of C$33.50. The company’s shares closed last Thursday at $13.95.
According to TipRanks.com, MacKenzie is a 4-star analyst with an average return of 21.5% and a 48.7% success rate. MacKenzie covers the Basic Materials sector, focusing on stocks such as Great Bear Resources, SilverCrest Metals, and Osisko Development.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Torex Gold Resources with a $23.69 average price target, implying a 77.1% upside from current levels. In a report issued on April 6, Scotiabank also maintained a Buy rating on the stock with a C$24.00 price target.
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