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 Ramelius Resources Limited (RMLRF – Research Report) with bullish sentiments.
Newcrest Mining Limited (NCMGF)
Macquarie analyst Hayden Bairstow maintained a Buy rating on Newcrest Mining Limited today and set a price target of A$33.00. The company’s shares closed last Thursday at $19.28, close to its 52-week high of $20.50.
According to TipRanks.com, Bairstow is a 5-star analyst with an average return of 12.0% and a 51.9% success rate. Bairstow covers the Basic Materials sector, focusing on stocks such as New Hope Corporation Limited, Panoramic Resources Limited, and Northern Star Resources Ltd.
Newcrest Mining Limited has an analyst consensus of Hold, with a price target consensus of $19.40.
Ramelius Resources Limited (RMLRF)
In a report released today, Paul Kaner from Ord Minnett maintained a Buy rating on Ramelius Resources Limited, with a price target of A$1.50. The company’s shares closed last Thursday at $0.94.
According to TipRanks.com, Kaner is a 4-star analyst with an average return of 10.8% and a 51.7% success rate. Kaner covers the Basic Materials sector, focusing on stocks such as Silver Lake Resources Limited, Evolution Mining Limited, and Gold Road Resources Ltd.
Currently, the analyst consensus on Ramelius Resources Limited is a Strong Buy with an average price target of $0.97, implying a 3.4% upside from current levels. In a report issued on April 13, Canaccord Genuity also maintained a Buy rating on the stock with a A$1.75 price target.
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