There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Regis Resources Limited (RGRNF – Research Report) and Reliance Steel (RS – Research Report) with bullish sentiments.

Regis Resources Limited (RGRNF)

Macquarie analyst Andrew Bowler maintained a Buy rating on Regis Resources Limited on February 21 and set a price target of A$3.60. The company’s shares closed last Friday at $1.95.

According to TipRanks.com, Bowler is a 5-star analyst with an average return of 17.7% and a 60.0% success rate. Bowler covers the Basic Materials sector, focusing on stocks such as Ramelius Resources Limited, West African Resources Ltd, and Evolution Mining Limited.

Currently, the analyst consensus on Regis Resources Limited is a Hold with an average price target of $2.02, which is a 1.5% upside from current levels. In a report issued on February 20, RBC Capital also maintained a Buy rating on the stock with a A$3.90 price target.

Reliance Steel (RS)

KeyBanc analyst Philip Gibbs maintained a Buy rating on Reliance Steel today and set a price target of $327.00. The company’s shares closed last Friday at $301.06.

According to TipRanks.com, Gibbs is a top 100 analyst with an average return of 27.5% and a 67.5% success rate. Gibbs covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, United States Steel, and Cleveland-Cliffs.

The word on The Street in general, suggests a Hold analyst consensus rating for Reliance Steel with a $329.00 average price target.