Analysts’ Top Materials Picks: Cameco (CCJ), OceanaGold (OCANF)

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Cameco (CCJResearch Report) and OceanaGold (OCANFResearch Report) with bullish sentiments.

Cameco (CCJ)

Raymond James analyst Brian MacArthur maintained a Buy rating on Cameco today and set a price target of C$34.00. The company’s shares closed last Thursday at $22.62.

According to TipRanks.com, MacArthur is a 4-star analyst with an average return of 6.3% and a 47.7% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Freeport-McMoRan.

Currently, the analyst consensus on Cameco is a Moderate Buy with an average price target of $27.99, a 25.6% upside from current levels. In a report released today, Eight Capital also upgraded the stock to Buy with a C$38.00 price target.

See the top stocks recommended by analysts >>

OceanaGold (OCANF)

RBC Capital analyst Paul Kaner maintained a Buy rating on OceanaGold today and set a price target of C$2.50. The company’s shares closed last Thursday at $1.55.

Kaner has an average return of 20.4% when recommending OceanaGold.

According to TipRanks.com, Kaner is ranked #5591 out of 7790 analysts.

OceanaGold has an analyst consensus of Strong Buy, with a price target consensus of $2.27, implying a 57.6% upside from current levels. In a report issued on February 4, National Bank also maintained a Buy rating on the stock with a C$3.00 price target.

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