Analysts Offer Insights on Materials Companies: New Gold (NYSE MKT: NGD) and Neo Lithium (Other OTC: NTTHF)

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on New Gold (NGDResearch Report) and Neo Lithium (NTTHFResearch Report) with bullish sentiments.

New Gold (NGD)

Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on New Gold yesterday and set a price target of C$2.50. The company’s shares closed last Thursday at $1.96.

According to TipRanks.com, Baretto is a 5-star analyst with an average return of 28.2% and a 53.2% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.

New Gold has an analyst consensus of Hold, with a price target consensus of $2.44.

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Neo Lithium (NTTHF)

Canaccord Genuity analyst Katie Lachapelle maintained a Buy rating on Neo Lithium yesterday and set a price target of C$5.00. The company’s shares closed last Thursday at $2.10.

According to TipRanks.com, Lachapelle is a 5-star analyst with an average return of 42.5% and a 69.4% success rate. Lachapelle covers the Basic Materials sector, focusing on stocks such as Uranium Royalty Corp, Lithium Americas, and Fission Uranium.

Neo Lithium has an analyst consensus of Moderate Buy, with a price target consensus of $3.69, which is a 67.7% upside from current levels. In a report issued on June 10, Stifel Nicolaus also maintained a Buy rating on the stock with a C$4.10 price target.

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