Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Hudbay Minerals (HBM), Barrick Gold (GOLD) and Argonaut Gold (ARNGF).
Hudbay Minerals (HBM)
In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Hudbay Minerals, with a price target of C$7.50. The company’s shares closed last Tuesday at $3.43.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 14.7% and a 59.3% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.
Hudbay Minerals has an analyst consensus of Moderate Buy, with a price target consensus of $3.82.
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Barrick Gold (GOLD)
In a report issued on August 10, Carey MacRury from Canaccord Genuity downgraded Barrick Gold to Hold, with a price target of C$47.00. The company’s shares closed last Tuesday at $26.25.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 27.7% and a 78.5% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
Currently, the analyst consensus on Barrick Gold is a Moderate Buy with an average price target of $31.77.
Argonaut Gold (ARNGF)
Canaccord Genuity analyst Tom Gallo maintained a Buy rating on Argonaut Gold yesterday and set a price target of C$4.25. The company’s shares closed last Tuesday at $2.02.
According to TipRanks.com, Gallo is a 5-star analyst with an average return of 24.9% and a 72.0% success rate. Gallo covers the Basic Materials sector, focusing on stocks such as Paramount Gold Nevada, TMAC Resources, and Marathon Gold.
Currently, the analyst consensus on Argonaut Gold is a Strong Buy with an average price target of $2.85, a 35.1% upside from current levels. In a report issued on July 28, Scotiabank also maintained a Buy rating on the stock with a C$3.50 price target.
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