There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Freeport-McMoRan (FCX – Research Report) and Novagold Resources New (NG – Research Report) with bullish sentiments.
Freeport-McMoRan (FCX)
Bank of America Securities analyst Lawson Winder maintained a Buy rating on Freeport-McMoRan yesterday and set a price target of $59.00. The company’s shares closed last Tuesday at $47.99.
According to TipRanks.com, Winder is a 2-star analyst with an average return of
Freeport-McMoRan has an analyst consensus of Moderate Buy, with a price target consensus of $51.21, a 7.9% upside from current levels. In a report issued on April 8, Bernstein also maintained a Buy rating on the stock with a $52.00 price target.
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Novagold Resources New (NG)
Bank of America Securities analyst Marcin Wojtal reiterated a Buy rating on Novagold Resources New today and set a price target of p1270.00. The company’s shares closed last Tuesday at $2.93.
According to TipRanks.com, Wojtal is ranked #6333 out of 8794 analysts.
Novagold Resources New has an analyst consensus of Moderate Buy, with a price target consensus of $8.99, a 225.7% upside from current levels. In a report issued on April 19, National Bank also maintained a Buy rating on the stock with a C$6.50 price target.
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