Analysts’ Opinions Are Mixed on These Materials Stocks: Newmont Mining (NYSE: NEM) and Pan American Silver (NASDAQ: PAAS)

By Jason Carr

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Newmont Mining (NEMResearch Report) and Pan American Silver (PAASResearch Report).

Newmont Mining (NEM)

RBC Capital analyst Josh Wolfson maintained a Hold rating on Newmont Mining yesterday and set a price target of $57.00. The company’s shares closed last Tuesday at $68.70, close to its 52-week high of $70.30.

According to TipRanks.com, Wolfson is a 4-star analyst with an average return of 7.7% and a 61.4% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Kirkland Lake Gold, and Eldorado Gold.

Newmont Mining has an analyst consensus of Moderate Buy, with a price target consensus of $74.85, implying a 10.3% upside from current levels. In a report issued on July 20, Barclays also maintained a Hold rating on the stock with a $61.00 price target.

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Pan American Silver (PAAS)

RBC Capital analyst Mark Mihaljevic maintained a Buy rating on Pan American Silver yesterday and set a price target of $35.00. The company’s shares closed last Tuesday at $38.14, close to its 52-week high of $39.33.

According to TipRanks.com, Mihaljevic is a 5-star analyst with an average return of 23.7% and a 65.7% success rate. Mihaljevic covers the Basic Materials sector, focusing on stocks such as Hecla Mining Company, Torex Gold Resources, and SilverCrest Metals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pan American Silver with a $36.20 average price target, which is a -4.4% downside from current levels. In a report issued on July 23, Merrill Lynch also upgraded the stock to Buy with a $44.80 price target.

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