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Analysts Are Bullish on Top Materials Stocks: Westgold Resources (WGXRF), Franco-Nevada (FNV)

Tipranks - Tipranks - Fri Jul 24, 12:22AM CDT

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Westgold Resources (WGXRF) and Franco-Nevada (FNV) with bullish sentiments.

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Westgold Resources (WGXRF)

In a report released yesterday, James Redfern from RBC Capital maintained a Buy rating on Westgold Resources, with a price target of A$6.50. The company’s shares closed last Wednesday at $3.44.

According to TipRanks.com, Redfern is a 1-star analyst with an average return of -3.5% and a 38.3% success rate. Redfern covers the Basic Materials sector, focusing on stocks such as Regis Resources Limited, Rio Tinto Limited, and Evolution Mining. ;'>

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Westgold Resources with a $5.55 average price target, implying a 61.3% upside from current levels. In a report issued on July 9, TipRanks – PerPlexity also upgraded the stock to Buy with a A$5.50 price target.

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Franco-Nevada (FNV)

RBC Capital analyst Josh Wolfson maintained a Buy rating on Franco-Nevada on July 20 and set a price target of $285.00. The company’s shares closed last Wednesday at $214.11.

According to TipRanks.com, Wolfson is a 5-star analyst with an average return of 17.8% and a 57.5% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Novagold Resources New, and Anglogold Ashanti PLC. ;'>

Currently, the analyst consensus on Franco-Nevada is a Strong Buy with an average price target of $285.06, which is a 34.5% upside from current levels. In a report issued on July 17, Stifel Nicolaus also maintained a Buy rating on the stock with a C$390.00 price target.

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