Analysts Offer Insights on Materials Companies: New Gold (NYSE MKT: NGD) and Cascades (Other OTC: CADNF)

Analysts have been eager to weigh in on the Materials sector with new ratings on New Gold (NGDResearch Report) and Cascades (CADNFResearch Report).

New Gold (NGD)

Raymond James analyst Farooq Hamed reiterated a Hold rating on New Gold today and set a price target of C$2.50. The company’s shares closed last Tuesday at $1.20, close to its 52-week low of $1.01.

According to TipRanks.com, Hamed ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -9.2% and a 37.5% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Lundin Mining, and Ero Copper.

Currently, the analyst consensus on New Gold is a Hold with an average price target of $1.67, which is a 33.6% upside from current levels. In a report issued on September 8, RBC Capital also upgraded the stock to Hold with a $1.50 price target.

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Cascades (CADNF)

In a report released today, Sean Steuart from TD Securities maintained a Buy rating on Cascades, with a price target of C$18.50. The company’s shares closed last Tuesday at $12.52.

According to TipRanks.com, Steuart is a 4-star analyst with an average return of 11.1% and a 61.1% success rate. Steuart covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Interfor, and Canfor.

Cascades has an analyst consensus of Strong Buy, with a price target consensus of $15.47.

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