Analysts Are Bullish on Top Materials Stocks: Agnico Eagle (AEM), Barrick Gold (GOLD)

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Agnico Eagle (AEMResearch Report) and Barrick Gold (GOLDResearch Report) with bullish sentiments.

Agnico Eagle (AEM)

Raymond James analyst Farooq Hamed maintained a Buy rating on Agnico Eagle today and set a price target of C$92.00. The company’s shares closed last Wednesday at $57.10.

According to TipRanks.com, Hamed has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -9.9% and a 36.7% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Ivanhoe Mines, and Lundin Mining.

Agnico Eagle has an analyst consensus of Strong Buy, with a price target consensus of $83.99, a 51.3% upside from current levels. In a report issued on October 6, RBC Capital also upgraded the stock to Buy with a $63.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Barrick Gold (GOLD)

Raymond James analyst Brian MacArthur maintained a Buy rating on Barrick Gold today and set a price target of C$34.00. The company’s shares closed last Wednesday at $19.23, close to its 52-week low of $17.56.

According to TipRanks.com, MacArthur is a 4-star analyst with an average return of 7.2% and a 47.7% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Teck Resources.

Barrick Gold has an analyst consensus of Strong Buy, with a price target consensus of $27.35.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.