Analysts Conflicted on These Materials Names: Freeport-McMoRan (NYSE: FCX) and Barrick Gold (NYSE: ABX)

By Austin Angelo

Analysts have been eager to weigh in on the Materials sector with new ratings on Freeport-McMoRan (NYSE: FCX) and Barrick Gold (NYSE: ABX).

Freeport-McMoRan (NYSE: FCX)

In a report issued on June 27, David Gagliano from BMO Capital reiterated a Hold rating on Freeport-McMoRan (NYSE: FCX), with a price target of $15. The company’s shares closed yesterday at $11.99.

According to TipRanks.com, Gagliano is a 4-star analyst with an average return of 4.2% and a 51.5% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Stillwater Mining Company.

Freeport-McMoRan has an analyst consensus of Hold, with a price target consensus of $13.94.

Barrick Gold (NYSE: ABX)

BMO Capital analyst Andrew Kaip reiterated a Buy rating on Barrick Gold (NYSE: ABX) yesterday and set a price target of $21. The company’s shares closed yesterday at $16.13.

According to TipRanks.com, Kaip is a 1-star analyst with an average return of -2.1% and a 34.8% success rate. Kaip covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Endeavour Silver Corp.

Currently, the analyst consensus on Barrick Gold is Moderate Buy and the average price target is $20.87, representing a 29.4% upside.

In a report issued on June 20, Jefferies also reiterated a Buy rating on the stock with a $24 price target.

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