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Analysts Offer Insights on Materials Companies: Barrick Gold (GOLD), Celanese (CE) and Novagold Resources New (NG)

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Barrick Gold (GOLDResearch Report), Celanese (CEResearch Report) and Novagold Resources New (NGResearch Report).

Barrick Gold (GOLD)

RBC Capital analyst Josh Wolfson maintained a Buy rating on Barrick Gold on August 1 and set a price target of $27.00. The company’s shares closed last Wednesday at $15.20, close to its 52-week low of $14.80.

According to TipRanks.com, Wolfson is a 1-star analyst with an average return of -2.9% and a 42.6% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Anglogold Ashanti.

Currently, the analyst consensus on Barrick Gold is a Moderate Buy with an average price target of $24.18, implying a 54.8% upside from current levels. In a report issued on July 19, Barclays also maintained a Buy rating on the stock with a $25.00 price target.

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Celanese (CE)

In a report issued on August 1, Arun Viswanathan from RBC Capital maintained a Hold rating on Celanese, with a price target of $116.00. The company’s shares closed last Wednesday at $110.62, close to its 52-week low of $104.74.

According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 4.4% and a 55.8% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Ardagh Metal Packaging.

Currently, the analyst consensus on Celanese is a Moderate Buy with an average price target of $145.44, representing a 29.7% upside. In a report issued on August 1, Citigroup also downgraded the stock to Hold with a $118.00 price target.

Novagold Resources New (NG)

In a report issued on August 1, Michael Siperco from RBC Capital maintained a Hold rating on Novagold Resources New, with a price target of $9.00. The company’s shares closed last Wednesday at $4.63, close to its 52-week low of $4.23.

According to TipRanks.com, Siperco has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -11.4% and a 26.3% success rate. Siperco covers the Basic Materials sector, focusing on stocks such as Hecla Mining Company, Pan American Silver, and SilverCrest Metals.

Novagold Resources New has an analyst consensus of Moderate Buy, with a price target consensus of $7.00.

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