Analysts Offer Insights on Materials Companies: Sandfire Resources Limited (OtherSFRRF), Fortescue Metals Group Ltd (OtherFSUMF) and Pilbara Minerals Limited (OtherPILBF)

Analysts have been eager to weigh in on the Materials sector with new ratings on Sandfire Resources Limited (SFRRF – Research Report), Fortescue Metals Group Ltd (FSUMF – Research Report) and Pilbara Minerals Limited (PILBF – Research Report).

Sandfire Resources Limited (SFRRF)

In a report released today, Rahul Anand from Morgan Stanley maintained a Hold rating on Sandfire Resources Limited, with a price target of A$6.05. The company’s shares closed last Friday at $4.04.

According to TipRanks.com, Anand is a 5-star analyst with an average return of 8.0% and a 51.0% success rate. Anand covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Fortescue Metals Group Ltd, and Mineral Resources Limited.

Sandfire Resources Limited has an analyst consensus of Moderate Buy, with a price target consensus of $4.39, a 6.0% upside from current levels. In a report issued on October 12, Canaccord Genuity also maintained a Hold rating on the stock with a price target.

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Fortescue Metals Group Ltd (FSUMF)

UBS analyst Lachlan Shaw downgraded Fortescue Metals Group Ltd to Sell today and set a price target of A$20.80. The company’s shares closed last Thursday at $13.94.

According to TipRanks.com, Shaw is a 3-star analyst with an average return of 3.6% and a 57.0% success rate. Shaw covers the Basic Materials sector, focusing on stocks such as Mineral Resources Limited, Regis Resources Limited, and Rio Tinto Limited.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Fortescue Metals Group Ltd with a $11.73 average price target, which is a -16.5% downside from current levels. In a report issued on October 12, RBC Capital also maintained a Sell rating on the stock with a A$17.00 price target.

Pilbara Minerals Limited (PILBF)

UBS analyst Levi Spry maintained a Hold rating on Pilbara Minerals Limited today and set a price target of A$4.15. The company’s shares closed last Thursday at $2.43, close to its 52-week low of $2.25.

According to TipRanks.com, Spry is a 5-star analyst with an average return of 10.4% and a 61.1% success rate. Spry covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Sandfire Resources Limited, and Lynas Rare Earths Limited.

Currently, the analyst consensus on Pilbara Minerals Limited is a Moderate Buy with an average price target of $3.07.

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