Analysts Offer Insights on Materials Companies: Fortuna Silver Mines (NYSE: FSM), New Gold (NYSE MKT: NGD) and TC Energy (NYSE: TRP)

Analysts have been eager to weigh in on the Materials sector with new ratings on Fortuna Silver Mines (FSMResearch Report), New Gold (NGDResearch Report) and TC Energy (TRPResearch Report).

Fortuna Silver Mines (FSM)

In a report released today, Ryan Thompson from BMO Capital maintained a Buy rating on Fortuna Silver Mines, with a price target of C$6.75. The company’s shares closed last Monday at $3.51.

According to TipRanks.com, Thompson is a 4-star analyst with an average return of 13.2% and a 63.6% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as First Majestic Silver, Pan American Silver, and SilverCrest Metals.

Fortuna Silver Mines has an analyst consensus of Moderate Buy, with a price target consensus of $4.81.

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New Gold (NGD)

Cormark Securities analyst Richard Gray maintained a Hold rating on New Gold today and set a price target of C$1.50. The company’s shares closed last Monday at $0.76, close to its 52-week low of $0.61.

According to TipRanks.com, Gray is a 3-star analyst with an average return of 10.0% and a 50.0% success rate. Gray covers the Basic Materials sector, focusing on stocks such as SilverCrest Metals, Rubicon Minerals, and Eldorado Gold.

The word on The Street in general, suggests a Hold analyst consensus rating for New Gold with a $1.00 average price target.

TC Energy (TRP)

BMO Capital analyst Benjamin Pham maintained a Buy rating on TC Energy today and set a price target of C$74.00. The company’s shares closed last Monday at $56.35, close to its 52-week high of $56.38.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 14.9% and a 85.3% success rate. Pham covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, TerraForm Power, and Fortis.

Currently, the analyst consensus on TC Energy is a Moderate Buy with an average price target of $54.86, a -1.6% downside from current levels. In a report released yesterday, CIBC also reiterated a Buy rating on the stock with a C$78.00 price target.

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