There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Newmont Mining (NEM) and Osisko Mining (OBNNF) with bullish sentiments.
Newmont Mining (NEM)
Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Newmont Mining yesterday and set a price target of $83.00. The company’s shares closed last Wednesday at $56.99.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 16.4% and a 57.2% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Kirkland Lake Gold.
Newmont Mining has an analyst consensus of Moderate Buy, with a price target consensus of $74.99, which is a 31.6% upside from current levels. In a report issued on February 2, National Bank also maintained a Buy rating on the stock with a C$109.00 price target.
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Osisko Mining (OBNNF)
Canaccord Genuity analyst Kevin MacKenzie maintained a Buy rating on Osisko Mining yesterday and set a price target of C$6.75. The company’s shares closed last Wednesday at $2.38.
According to TipRanks.com, MacKenzie is a 4-star analyst with an average return of 28.1% and a 50.8% success rate. MacKenzie covers the Basic Materials sector, focusing on stocks such as Great Bear Resources, Torex Gold Resources, and SilverCrest Metals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Osisko Mining with a $5.38 average price target.
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