Analysts Offer Insights on Materials Companies: Alcoa (NYSE: AA) and McEwen Mining (NYSE: MUX)

By Jason Carr

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Alcoa (AAResearch Report) and McEwen Mining (MUXResearch Report) with bullish sentiments.

Alcoa (AA)

In a report released today, Lucas Pipes from B.Riley FBR maintained a Buy rating on Alcoa, with a price target of $23.00. The company’s shares closed last Monday at $20.18.

According to TipRanks.com, Pipes has 0 stars on 0-5 star ranking scale with an average return of -5.3% and a 42.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, CONSOL Coal Resources, and Peabody Energy Comm.

Currently, the analyst consensus on Alcoa is a Hold with an average price target of $24.00.

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McEwen Mining (MUX)

B.Riley FBR analyst Adam Graf maintained a Buy rating on McEwen Mining yesterday and set a price target of $3.80. The company’s shares closed last Monday at $1.22.

According to TipRanks.com, Graf is a 3-star analyst with an average return of 2.9% and a 40.4% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures, First Majestic Silver, and Hecla Mining Company.

Currently, the analyst consensus on McEwen Mining is a Moderate Buy with an average price target of $2.90, implying a 141.7% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.00 price target.

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