Wall Street Analysts Are Bullish on Top Materials Picks

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Pretium Resources (PVGResearch Report) and High Tide (HITIFResearch Report) with bullish sentiments.

Pretium Resources (PVG)

Pretium Resources received a Buy rating and a C$17.25 price target from Canaccord Genuity analyst Kevin MacKenzie on December 4. The company’s shares closed last Monday at $9.68.

According to TipRanks.com, MacKenzie is a 4-star analyst with an average return of 22.5% and a 44.1% success rate. MacKenzie covers the Basic Materials sector, focusing on stocks such as Great Bear Resources, Torex Gold Resources, and SilverCrest Metals.

Currently, the analyst consensus on Pretium Resources is a Moderate Buy with an average price target of $14.43, representing a 46.6% upside. In a report issued on December 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $17.50 price target.

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High Tide (HITIF)

In a report issued on February 23, Andrew Semple from Echelon Wealth Partners maintained a Buy rating on High Tide, with a price target of C$0.90. The company’s shares closed last Monday at $0.73.

According to TipRanks.com, Semple is a top 100 analyst with an average return of 182.0% and a 91.1% success rate. Semple covers the Basic Materials sector, focusing on stocks such as Fire & Flower Holdings, Green Thumb Industries, and Trulieve Cannabis.

Currently, the analyst consensus on High Tide is a Moderate Buy with an average price target of $0.95, which is a 37.7% upside from current levels. In a report issued on February 23, ATB Capital Markets also maintained a Buy rating on the stock with a $1.20 price target.

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