There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on MasTec (MTZ), Concho Resources (CXO) and Newmont Mining (NEM) with bullish sentiments.
MasTec (MTZ)
In a report released today, Tahira Afzal from KeyBanc maintained a Buy rating on MasTec, with a price target of $37.00. The company’s shares closed last Monday at $29.60, close to its 52-week low of $22.51.
According to TipRanks.com, Afzal is ranked #1268 out of 6169 analysts.
MasTec has an analyst consensus of Strong Buy, with a price target consensus of $62.13, which is an 113.8% upside from current levels. In a report issued on March 17, Stephens also maintained a Buy rating on the stock with a $53.00 price target.
See today’s analyst top recommended stocks >>
Concho Resources (CXO)
KeyBanc analyst Leo Mariani maintained a Buy rating on Concho Resources today and set a price target of $83.00. The company’s shares closed last Monday at $43.76, close to its 52-week low of $33.13.
According to TipRanks.com, Mariani is ranked 0 out of 5 stars with an average return of -20.8% and a 28.0% success rate. Mariani covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Black Stone Minerals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Concho Resources with a $75.06 average price target, representing a 68.4% upside. In a report issued on March 11, Cowen & Co. also maintained a Buy rating on the stock with a $60.00 price target.
Newmont Mining (NEM)
In a report released today, Chris Terry from Deutsche Bank maintained a Buy rating on Newmont Mining, with a price target of $54.00. The company’s shares closed last Monday at $47.54.
According to TipRanks.com, Terry is a 2-star analyst with an average return of -3.5% and a 47.3% success rate. Terry covers the Basic Materials sector, focusing on stocks such as Pan American Silver, Peabody Energy Comm, and Freeport-McMoRan.
Currently, the analyst consensus on Newmont Mining is a Strong Buy with an average price target of $51.14, which is an 8.5% upside from current levels. In a report issued on March 23, B.Riley FBR also maintained a Buy rating on the stock with a $55.00 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
