There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Hudbay Minerals (HBM) and Kinross Gold (KGC) with bullish sentiments.
Hudbay Minerals (HBM)
In a report released today, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Hudbay Minerals, with a price target of C$7.00. The company’s shares closed last Monday at $3.06, close to its 52-week low of $2.86.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 8.2% and a 51.6% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Hecla Mining Company, Capstone Mining, and Teck Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hudbay Minerals with a $5.36 average price target, implying a 74.0% upside from current levels. In a report issued on February 4, Scotiabank also upgraded the stock to Buy.
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Kinross Gold (KGC)
Canaccord Genuity analyst Carey MacRury reiterated a Buy rating on Kinross Gold yesterday and set a price target of C$9.25. The company’s shares closed last Monday at $5.32, close to its 52-week high of $5.47.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 19.0% and a 70.6% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Kirkland Lake Gold, and Agnico Eagle.
Kinross Gold has an analyst consensus of Moderate Buy, with a price target consensus of $5.83.
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