Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Rio Tinto (RIO), Franco Nev (FNV) and Steel Dynamics (STLD).
Rio Tinto (RIO)
In a report released today, Alexander Pearce from BMO Capital reiterated a Buy rating on Rio Tinto, with a price target of £66.00. The company’s shares closed last Tuesday at $85.49, close to its 52-week high of $92.85.
According to TipRanks.com, Pearce is ranked #984 out of 7459 analysts.
Rio Tinto has an analyst consensus of Strong Buy, with a price target consensus of $108.00.
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Franco Nev (FNV)
BMO Capital analyst Jackie Przybylowski maintained a Buy rating on Franco Nev today and set a price target of $195.00. The company’s shares closed last Tuesday at $137.55.
According to TipRanks.com, Przybylowski is a 5-star analyst with an average return of 42.4% and a 56.3% success rate. Przybylowski covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, Wheaton Precious Metals, and First Quantum Minerals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Franco Nev with a $143.59 average price target, representing a 4.9% upside. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a C$200.00 price target.
Steel Dynamics (STLD)
BMO Capital analyst David Gagliano maintained a Hold rating on Steel Dynamics today and set a price target of $60.00. The company’s shares closed last Tuesday at $51.48, close to its 52-week high of $52.72.
According to TipRanks.com, Gagliano is a 4-star analyst with an average return of 6.4% and a 48.1% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, United States Steel, and Nucor.
Currently, the analyst consensus on Steel Dynamics is a Moderate Buy with an average price target of $55.60.
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