Analysts Offer Insights on Materials Companies: Reliance Steel (NYSE: RS), Helmerich & Payne (NYSE: HP) and Newmont Mining Corporation (NYSE: NEM)

By Austin Angelo

Analysts fell to the sidelines weighing in on Reliance Steel (NYSE: RS), Helmerich & Payne (NYSE: HP) and Newmont Mining Corporation (NYSE: NEM) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Reliance Steel (NYSE: RS)

Jefferies analyst Martin Englert reiterated a Hold rating on Reliance Steel (NYSE: RS) yesterday and set a price target of $72. The company’s shares opened today at $73.36.

According to TipRanks.com, Englert is a 1-star analyst with an average return of -1.6% and a 56.0% success rate. Englert covers the Basic Materials sector, focusing on stocks such as Layne Christensen Company, United States Steel, and Jacobs Engineering.

Reliance Steel has an analyst consensus of Strong Buy, with a price target consensus of $82.

Helmerich & Payne (NYSE: HP)

Jefferies analyst Brad Handler reiterated a Hold rating on Helmerich & Payne (NYSE: HP) today and set a price target of $50. The company’s shares opened today at $42.90, close to its 52-week high of $85.78.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -12.9% and a 29.0% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Helmerich & Payne is Moderate Sell and the average price target is $48.13, representing a 12.2% upside.

In a report released today, Societe Generale also initiated coverage with a Hold rating on the stock with a $46 price target.
Newmont Mining Corporation (NYSE: NEM)

In a report released yesterday, Alan Spence from Jefferies reiterated a Hold rating on Newmont Mining Corporation (NYSE: NEM), with a price target of $40. The company’s shares opened today at $38.14.

According to TipRanks.com, Spence is a 1-star analyst with an average return of -1.1% and a 33.3% success rate. Spence covers the Basic Materials sector, focusing on stocks such as Barrick Gold, Kinross Gold, and Goldcorp.

Currently, the analyst consensus on Newmont Mining Corporation is Moderate Buy and the average price target is $42.50, representing an 11.4% upside.

In a report issued on August 28, RBC Capital also reiterated a Hold rating on the stock with a $41 price target.

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