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Analysts Offer Insights on Materials Companies: Newmont Mining (NEM) and ArcelorMittal (MT)

Tipranks - Tipranks - Fri Aug 14, 3:36AM CDT

Analysts have been eager to weigh in on the Materials sector with new ratings on Newmont Mining (NEM) and ArcelorMittal (MT).

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Newmont Mining (NEM)

In a report released today, Richard Garchitorena from Barclays maintained a Buy rating on Newmont Mining, with a price target of $124.00. The company’s shares closed last Wednesday at $117.84.

According to TipRanks.com, Garchitorena is a 4-star analyst with an average return of 11.6% and a 68.4% success rate. Garchitorena covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Cleveland-Cliffs, and Freeport-McMoRan. ;'>

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Newmont Mining with a $135.08 average price target, representing a 12.6% upside. In a report issued on July 31, Argus Research also maintained a Buy rating on the stock with a $110.00 price target.

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ArcelorMittal (MT)

In a report released today, Samuel McKinney from KeyBanc maintained a Hold rating on ArcelorMittal. The company’s shares closed last Wednesday at $74.18.

According to TipRanks.com, McKinney is a 4-star analyst with an average return of 25.9% and a 84.6% success rate. McKinney covers the Basic Materials sector, focusing on stocks such as Worthington Steel, Inc., Cleveland-Cliffs, and Reliance Steel. ;'>

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ArcelorMittal with a $79.00 average price target, representing a 5.1% upside. In a report issued on July 31, Wells Fargo also maintained a Hold rating on the stock with a $69.00 price target.

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