There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Teck Resources (TECK) and Yamana Gold (AUY) with bullish sentiments.
Teck Resources (TECK)
Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Teck Resources yesterday and set a price target of C$20.00. The company’s shares closed last Thursday at $11.56.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 15.5% and a 61.4% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.
Teck Resources has an analyst consensus of Moderate Buy, with a price target consensus of $14.53, implying a 32.2% upside from current levels. In a report issued on July 15, CIBC also maintained a Buy rating on the stock with a C$22.00 price target.
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Yamana Gold (AUY)
In a report released yesterday, Carey MacRury from Canaccord Genuity maintained a Buy rating on Yamana Gold, with a price target of C$10.00. The company’s shares closed last Thursday at $5.80, close to its 52-week high of $6.06.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 28.9% and a 79.8% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
The word on The Street in general, suggests a Hold analyst consensus rating for Yamana Gold with a $5.45 average price target, representing a -9.3% downside. In a report issued on July 21, Stifel Nicolaus also maintained a Buy rating on the stock with a C$9.75 price target.
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