Analyst Picks of the Week

- October 29th, 2013

B2Gold Corp, Copper Mountain Mining, and Agnico-Eagle Mines are among the companies with the best potential according to analyst data.

The following resource companies were mentioned by analysts during the week of October 22-29. This information, to be used for the purpose of evaluating potential investments, was distilled from a daily list of analyst upgrades, downgrades and initiations compiled by Analyst Ratings Network.

  • Goldrock Mines (TSXV:GRM) is focused on developing two gold projects in Argentina, Lindero, a porphyry gold deposit, and Arizaro, a copper-gold deposit 3 kilometers from Lindero. Goldrock Mines was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “speculative buy” rating. They now have a C$0.55 price target on the stock, up previously from $0.45. 25.0 percent upside.
  • Golden Queen Mining (TSX:GQM) is planning to develop a gold-silver heap leach operation on its Soledad Mountain property in California. Golden Queen was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “speculative buy” rating. They now have a $1.30 price target on the stock, up previously from $1.20. 19.3 percent upside.
  • B2Gold Corp (TSX:BTO, NYSE:BTG) is a gold producer with three operating mines  — two in Nicaragua and one in the Philippines — plus a portfolio of development and exploration assets in Nicaragua, Colombia, Namibia and Uruguay. This week B2Gold announced it has acquired Volta Resources (TSX:VTR) in an all-stock deal valued at C$63 million. B2Gold is now covered by analysts at Scotiabank. They set an “outperform” rating and a C$4.00 price target on the stock. 40.8 percent upside.
  • Copper Mountain Mining Corp’s (TSX:CUM) flagship asset is the 75-percent-owned Copper Mountain Mine near Princeton, British Columbia. Copper Mountain last week announced record copper production for the third quarter at 17.7 million pounds copper, 6,417 ounces of gold, 79,290 ounces of silver. Copper Mountain is now covered by analysts at Mackie. They set a “buy” rating and a C$2.80 price target on the stock. 62.8 percent upside.
  • Swift Energy Co. (NYSE:SFY) is a US oil and natural gas company that operates in Louisiana and Texas. Swift Energy was upgraded by analysts at Global Hunter Securities from an “accumulate” rating to a “buy” rating. They now have a $22.00 price target on the stock. 70.8 percent upside.
  • Agnico-Eagle Mines Limited (NYSE:AEM, TSX:AEM) is a Canadian gold producer with mines in Canada, Finland and Mexico. Agnico-Eagle earlier this month announced record quarterly gold production of 133,489 ounces. The company was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $35.00 price target on the stock, up previously from $32.00. 35.3 percent upside.
  • Range Resources Corp. (NYSE:RRC) is an oil and gas company based in Forth Worth, Texas. On Oct. 17 the firm announced its third quarter production volumes reached a record high of 960 Mmcfe (millions of cubic feet equivalent) per day, a 21 percent increase over the year-ago quarter. Range Resources was upgraded by analysts at Global Hunter Securities from a “neutral” rating to a “buy” rating. They now have a $94.00 price target on the stock. 25.2 percent upside.
  • Cabot Oil & Gas Corp. (NYSE:COG) explores and develops oil and gas properties in the continental United States. Its third-quarter results indicated a 61 percent increase in natural gas production. Cabot Oil & Gas was upgraded by analysts at Global Hunter Securities from a “neutral” rating to an “accumulate” rating. They now have a $42.00 price target on the stock, up previously from $41.00. 17.1 percent upside.
  • Kodiak Oil & Gas Corp. (NYSE:KOG) has oil and natural gas reserves primarily concentrated in the Williston Basin of North Dakota. Kodiak was upgraded by analysts at Global Hunter Securities from an “accumulate” rating to a “buy” rating. They now have a $16.00 price target on the stock, up previously from $13.00. 20.1 percent upside.
  • Breitburn Energy Partners (NASDAQ:BBEP) has crude oil and natural gas reserves throughout the United States including Wyoming, Texas and Florida. Breitburn Energy Partners is now covered by analysts at Wunderlich. They set a “buy” rating and a $22.00 price target on the stock. 12.9 percent upside.

 

Securities Disclosure: I, Andrew Topf, hold no direct investment interest in any company mentioned in this article. 

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