Analysts Offer Insights on Materials Companies: Hudbay Minerals (NYSE: HBM), Denison Mines (NYSE MKT: DNN) and Roxgold (Other OTC: ROGFF)

By Ryan Adsit

There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Hudbay Minerals (HBMResearch Report), Denison Mines (DNNResearch Report) and Roxgold (ROGFFResearch Report) with bullish sentiments.

Hudbay Minerals (HBM)

In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Hudbay Minerals, with a price target of C$11.00. The company’s shares closed last Tuesday at $7.91, close to its 52-week high of $8.39.

According to TipRanks.com, Baretto is a 5-star analyst with an average return of 29.8% and a 59.7% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.

Hudbay Minerals has an analyst consensus of Strong Buy, with a price target consensus of $10.08, which is a 28.9% upside from current levels. In a report issued on March 30, Scotiabank also maintained a Buy rating on the stock with a C$12.50 price target.

See today’s analyst top recommended stocks >>

Denison Mines (DNN)

Canaccord Genuity analyst Katie Lachapelle maintained a Buy rating on Denison Mines yesterday and set a price target of C$2.00. The company’s shares closed last Tuesday at $1.25.

According to TipRanks.com, Lachapelle is a 5-star analyst with an average return of 70.0% and a 90.9% success rate. Lachapelle covers the Basic Materials sector, focusing on stocks such as Uranium Royalty Corp, Lithium Americas, and Fission Uranium.

Currently, the analyst consensus on Denison Mines is a Moderate Buy with an average price target of $1.48, implying an 11.3% upside from current levels. In a report issued on March 22, Cantor Fitzgerald also maintained a Buy rating on the stock with a $2.25 price target.

Roxgold (ROGFF)

Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Roxgold yesterday and set a price target of C$2.50. The company’s shares closed last Tuesday at $1.37, close to its 52-week high of $1.48.

According to TipRanks.com, MacRury is a 5-star analyst with an average return of 16.9% and a 64.7% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Osisko Gold Royalties.

Currently, the analyst consensus on Roxgold is a Strong Buy with an average price target of $1.98, which is a 45.6% upside from current levels. In a report issued on April 5, RBC Capital also upgraded the stock to Buy with a C$2.25 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.