There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on NexGen Energy (NXE), Agnico Eagle (AEM) and Westlake Chemical (WLK) with bullish sentiments.
NexGen Energy (NXE)
Canaccord Genuity analyst Katie Lachapelle maintained a Buy rating on NexGen Energy yesterday and set a price target of C$6.75. The company’s shares closed last Tuesday at $3.88, close to its 52-week high of $4.27.
According to TipRanks.com, Lachapelle is a 5-star analyst with an average return of 73.5% and a 87.5% success rate. Lachapelle covers the Basic Materials sector, focusing on stocks such as Uranium Royalty Corp, Lithium Americas, and Fission Uranium.
NexGen Energy has an analyst consensus of Moderate Buy, with a price target consensus of $4.67.
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Agnico Eagle (AEM)
In a report issued on February 22, Carey MacRury from Canaccord Genuity maintained a Buy rating on Agnico Eagle, with a price target of C$110.00. The company’s shares closed last Tuesday at $60.76.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 17.4% and a 58.6% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Kirkland Lake Gold.
Agnico Eagle has an analyst consensus of Moderate Buy, with a price target consensus of $84.61, implying a 37.6% upside from current levels. In a report issued on February 16, Stifel Nicolaus also maintained a Buy rating on the stock with a C$120.00 price target.
Westlake Chemical (WLK)
In a report released yesterday, Hassan Ahmed from Alembic Global maintained a Buy rating on Westlake Chemical, with a price target of $95.00. The company’s shares closed last Tuesday at $87.20, close to its 52-week high of $91.83.
According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 9.4% and a 50.9% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Chemours Company, and LyondellBasell.
Westlake Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $87.00.
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