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Analysts Offer Insights on Materials Companies: OceanaGold (OtherOCANF), West Fraser Timber Co (WFG) and SilverCrest Metals (SILV)

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There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on OceanaGold (OCANFResearch Report), West Fraser Timber Co (WFGResearch Report) and SilverCrest Metals (SILVResearch Report) with bullish sentiments.

OceanaGold (OCANF)

In a report released today, Farooq Hamed from Raymond James maintained a Buy rating on OceanaGold, with a price target of C$4.50. The company’s shares closed last Friday at $2.50, close to its 52-week high of $2.70.

According to TipRanks.com, Hamed has 0 stars on 0-5 stars ranking scale with an average return of -8.4% and a 36.9% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Hudbay Minerals, and Lundin Mining.

Currently, the analyst consensus on OceanaGold is a Strong Buy with an average price target of $2.84, implying a 12.0% upside from current levels. In a report issued on April 14, Canaccord Genuity also maintained a Buy rating on the stock with a C$3.50 price target.

See today’s best-performing stocks on TipRanks >>

West Fraser Timber Co (WFG)

In a report released today, Daryl Swetlishoff from Raymond James maintained a Buy rating on West Fraser Timber Co, with a price target of C$190.00. The company’s shares closed last Friday at $87.85.

According to TipRanks.com, Swetlishoff is a 5-star analyst with an average return of 15.6% and a 50.9% success rate. Swetlishoff covers the Basic Materials sector, focusing on stocks such as Mercer International, Interfor, and Canfor.

Currently, the analyst consensus on West Fraser Timber Co is a Strong Buy with an average price target of $125.72, a 39.5% upside from current levels. In a report issued on April 21, Scotiabank also maintained a Buy rating on the stock with a C$157.00 price target.

SilverCrest Metals (SILV)

Raymond James analyst Craig Stanley maintained a Buy rating on SilverCrest Metals today and set a price target of C$14.15. The company’s shares closed last Friday at $7.54.

According to TipRanks.com, Stanley is a 3-star analyst with an average return of 3.8% and a 46.1% success rate. Stanley covers the Basic Materials sector, focusing on stocks such as Silvercorp Metals, Bear Creek Mining, and Osisko Mining.

Currently, the analyst consensus on SilverCrest Metals is a Strong Buy with an average price target of $12.02, implying a 54.5% upside from current levels. In a report issued on April 20, RBC Capital also maintained a Buy rating on the stock with a C$16.00 price target.

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