There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on NexGen Energy (NXE) and Agnico Eagle (AEM) with bullish sentiments.
NexGen Energy (NXE)
In a report released yesterday, Katie Lachapelle from Canaccord Genuity maintained a Buy rating on NexGen Energy, with 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)
Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Agnico Eagle on February 22 and set a price target of $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.
Currently, the analyst consensus on Agnico Eagle is a Moderate Buy with an average price target of $86.86, a 41.2% 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.
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