Analysts have been eager to weigh in on the Materials sector with new ratings on Turquoise Hill Resources (TRQ) and Barrick Gold (GOLD).
Turquoise Hill Resources (TRQ)
Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Turquoise Hill Resources yesterday and set a price target of C$2.25. The company’s shares closed last Thursday at $0.79.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 14.6% and a 60.6% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Fortuna Silver Mines, and Hecla Mining Company.
Currently, the analyst consensus on Turquoise Hill Resources is a Moderate Buy with an average price target of $1.20, a 46.5% upside from current levels. In a report issued on July 6, CIBC also upgraded the stock to Buy with a C$1.60 price target.
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Barrick Gold (GOLD)
Barrick Gold received a Hold rating and a C$40.00 price target from Canaccord Genuity analyst Carey MacRury yesterday. The company’s shares closed last Thursday at $26.69, close to its 52-week high of $28.50.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 26.0% and a 79.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
Barrick Gold has an analyst consensus of Moderate Buy, with a price target consensus of $30.40.
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