Analysts have been eager to weigh in on the Materials sector with new ratings on MAG Silver (MAG), Teranga Gold (TGCDF) and Auxly Cannabis Group (CBWTF).
MAG Silver (MAG)
Raymond James analyst Farooq Hamed maintained a Buy rating on MAG Silver yesterday and set a price target of C$26.00. The company’s shares closed last Tuesday at $16.02.
According to TipRanks.com, Hamed has 0 stars on 0-5 stars ranking scale with an average return of -13.3% and a 33.6% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Ivanhoe Mines, and Lundin Mining.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MAG Silver with a $21.06 average price target, which is a 29.1% upside from current levels. In a report issued on November 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $22.50 price target.
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Teranga Gold (TGCDF)
In a report released yesterday, Craig Stanley from Raymond James downgraded Teranga Gold to Hold, with a price target of C$16.50. The company’s shares closed last Tuesday at $11.03.
According to TipRanks.com, Stanley is a 3-star analyst with an average return of 8.8% and a 65.2% success rate. Stanley covers the Basic Materials sector, focusing on stocks such as SilverCrest Metals, Marathon Gold, and Roxgold.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teranga Gold with a $14.97 average price target.
Auxly Cannabis Group (CBWTF)
In a report released yesterday, Rahul Sarugaser from Raymond James downgraded Auxly Cannabis Group to Hold, with a price target of C$0.40. The company’s shares closed last Tuesday at $0.31.
According to TipRanks.com, Sarugaser is a 4-star analyst with an average return of 17.8% and a 62.3% success rate. Sarugaser covers the Basic Materials sector, focusing on stocks such as Village Farms International, OrganiGram Holdings, and Cronos Group.
Currently, the analyst consensus on Auxly Cannabis Group is a Hold with an average price target of $0.31.
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