Analysts Offer Insights on Materials Companies: Newcrest Mining Limited (OtherNCMGF) and Allkem Limited (OtherOROCF)

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Newcrest Mining Limited (NCMGFResearch Report) and Allkem Limited (OROCFResearch 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, O’Connor is a 2-star analyst with an average return of -1.6% and a 51.1% success rate. O’Connor covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Fortescue Metals Group Ltd, and Sandfire Resources Limited.

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.

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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.

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