Analysts Offer Insights on Materials Companies: High Tide (Other OTC: HITID) and GoGold Resources (Other OTC: GLGDF)

By Carrie Williams

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

High Tide (HITID)

In a report issued on May 26, Andrew Semple from Echelon Wealth Partners reiterated a Buy rating on High Tide, with a price target of C$20.00. The company’s shares closed last Friday at $8.80, close to its 52-week high of $9.09.

According to TipRanks.com, Semple is a top 100 analyst with an average return of 100.7% and a 74.6% success rate. Semple covers the Basic Materials sector, focusing on stocks such as Fire & Flower Holdings, Green Thumb Industries, and Trulieve Cannabis.

High Tide has an analyst consensus of Moderate Buy, with a price target consensus of $16.97.

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GoGold Resources (GLGDF)

In a report issued on May 26, Gabriel Gonzalez CFA from Echelon Wealth Partners maintained a Buy rating on GoGold Resources, with a price target of C$3.80. The company’s shares closed last Friday at $2.23, close to its 52-week high of $2.30.

According to TipRanks.com, CFA is a 4-star analyst with an average return of 17.0% and a 67.6% success rate. CFA covers the Basic Materials sector, focusing on stocks such as Freeman Gold Corp., Argonaut Gold, and Revival Gold.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for GoGold Resources with a $3.06 average price target, representing a 37.2% upside. In a report issued on May 11, BMO Capital also initiated coverage with a Buy rating on the stock with a C$3.50 price target.

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