There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on IGO (IPGDF – Research Report) and Westgold Resources (WGXRF – Research Report) with bullish sentiments.

IGO (IPGDF)

In a report issued on March 13, Kaan Peker from RBC Capital maintained a Buy rating on IGO, with a price target of A$6.00. The company’s shares closed last Monday at $2.54, equals to its 52-week low of $2.54.

According to TipRanks.com, Peker has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.5% and a 38.1% success rate. Peker covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Sandfire Resources Limited, and Mineral Resources Limited.

IGO has an analyst consensus of Hold, with a price target consensus of $3.24.

Westgold Resources (WGXRF)

RBC Capital analyst Alex Barkley maintained a Buy rating on Westgold Resources on March 13 and set a price target of A$3.80. The company’s shares closed last Monday at $1.87.

According to TipRanks.com, Barkley is a 3-star analyst with an average return of 2.9% and a 52.3% success rate. Barkley covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Ramelius Resources Limited, and Evolution Mining Limited.

Westgold Resources has an analyst consensus of Strong Buy, with a price target consensus of $2.33, a 24.6% upside from current levels. In a report issued on February 26, Ord Minnett also maintained a Buy rating on the stock with a A$3.40 price target.

Questions or Comments about the article? Write to [email protected]