Analysts Offer Insights on Materials Companies: First Quantum Minerals (OtherFQVLF), Methanex (MEOH) and Newmont Mining (NEM)

Analysts have been eager to weigh in on the Materials sector with new ratings on First Quantum Minerals (FQVLF – Research Report), Methanex (MEOH – Research Report) and Newmont Mining (NEM – Research Report).

First Quantum Minerals (FQVLF)

RBC Capital analyst Sam Crittenden maintained a Buy rating on First Quantum Minerals yesterday and set a price target of C$18.00. The company’s shares closed last Thursday at $11.86.

According to TipRanks.com, Crittenden is a 5-star analyst with an average return of 22.3% and a 62.7% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Nexa Resources SA, Warrior Met Coal, and Freeport-McMoRan.

First Quantum Minerals has an analyst consensus of Moderate Buy, with a price target consensus of $12.86, which is an 8.1% upside from current levels. In a report issued on April 17, Canaccord Genuity also maintained a Buy rating on the stock with a C$22.00 price target.

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Methanex (MEOH)

RBC Capital analyst Nelson Ng reiterated a Hold rating on Methanex today and set a price target of $50.00. The company’s shares closed last Thursday at $47.77.

According to TipRanks.com, Ng is a 4-star analyst with an average return of 5.7% and a 54.1% success rate. Ng covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Algonquin Power & Utilities, and Northland Power.

Currently, the analyst consensus on Methanex is a Strong Buy with an average price target of $55.63.

Newmont Mining (NEM)

RBC Capital analyst Josh Wolfson assigned a Hold rating to Newmont Mining today and set a price target of $40.00. The company’s shares closed last Thursday at $43.41.

According to TipRanks.com, Wolfson is a 4-star analyst with an average return of 3.9% and a 60.7% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Anglogold Ashanti PLC, and Osisko Gold Royalties.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Newmont Mining with a $43.27 average price target, implying a 7.3% upside from current levels. In a report issued on April 15, CIBC also maintained a Hold rating on the stock with a $44.00 price target.

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Read More on FQVLF:

• First Quantum Minerals Tackles Q1 Challenges
• First Quantum Minerals price target raised to C$15 from C$14 at CIBC
• First Quantum Minerals price target raised to C$22 from C$21 at Canaccord
• First Quantum Minerals price target raised to C$16 from C$13 at Barclays
• First Quantum Minerals price target raised to C$15 from C$13 at Scotiabank