There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Newcrest Mining Limited (NCMGF – Research Report) and Allkem Limited (OROCF – Research Report) with bullish sentiments.
Newcrest Mining Limited (NCMGF)
Shaw and Partners analyst Peter O’Connor maintained a Buy rating on Newcrest Mining Limited on October 28 and set a price target of A$32.00. The company’s shares closed last Tuesday at $12.40.
According to TipRanks.com, O’Connor is a 2-star analyst with an average return of
Newcrest Mining Limited has an analyst consensus of Moderate Buy, with a price target consensus of $15.36, implying a 26.9% upside from current levels. In a report issued on October 28, Credit Suisse also maintained a Buy rating on the stock with a A$23.00 price target.
See the top stocks recommended by analysts >>
Allkem Limited (OROCF)
Ord Minnett analyst Ord Minnett maintained a Buy rating on Allkem Limited yesterday and set a price target of A$22.50. The company’s shares closed last Tuesday at $10.20, close to its 52-week high of $11.00.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Allkem Limited with a $11.33 average price target, representing a 13.4% upside. In a report issued on October 24, Citigroup also maintained a Buy rating on the stock with a A$16.50 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.
Read More on NCMGF:
- Boeing (NYSE:BA) Falls Short on October Deliveries, Orders Rise
- Analysts’ Top Healthcare Picks: Ocugen (OCGN), Leap Therapeutics (LPTX)
- Mizuho Securities Sticks to Their Hold Rating for CytomX Therapeutics (CTMX)
- Mizuho Securities Sticks to Their Buy Rating for TCR2 Therapeutics (TCRR)
- Novavax (NASDAQ:NVAX) Posts Mixed Q3 Results, Revises Outlook Lower
