Analysts have been eager to weigh in on the Materials sector with new ratings on MAG Silver (MAG – Research Report) and Southern Copper (SCCO – Research Report).
MAG Silver (MAG)
H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on MAG Silver today and set a price target of $16.00. The company’s shares closed last Wednesday at $12.89.
According to TipRanks.com, Ihle has 0 stars on 0-5 stars ranking scale with an average return of
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MAG Silver with a $17.56 average price target, implying a 35.1% upside from current levels. In a report issued on April 18, National Bank also maintained a Buy rating on the stock with a C$24.50 price target.
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Southern Copper (SCCO)
Morgan Stanley analyst Carlos De Alba maintained a Hold rating on Southern Copper yesterday and set a price target of $70.00. The company’s shares closed last Wednesday at $75.49, close to its 52-week high of $82.05.
According to TipRanks.com, Alba is a 5-star analyst with an average return of
Currently, the analyst consensus on Southern Copper is a Moderate Sell with an average price target of $61.75, implying a -19.5% downside from current levels. In a report issued on April 19, HSBC also maintained a Hold rating on the stock with a $81.00 price target.
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Read More on MAG:
- MAG Silver Reports First Quarter Production From Juanicipio
- Juanicipio Ships First Commercial Concentrates
- MAG Silver announces commencement of production at Juanicipio Mine
- MAG Silver price target lowered to C$24.50 from C$26 at National Bank
- MAG Silver price target lowered to C$27 from C$29 at TD Securities
