The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Analyst Picks of the Week (December 17-23)
Dec. 24, 2013 04:30AM PST
Pretium Resources, Southern Copper and Asanko Gold are among the resource companies considered to have considerable upside, according to analyst coverage.
The following resource companies were mentioned by analysts during the week of December 17-23. 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.
Pretium Resources (NYSE:PVG,TSX:PVG) is developing two projects in Northern British Columbia, Canada: Brucejack and Snowfield. Brucejack’s high-grade Valley of the Kings deposit hosts probable gold reserves of 6.6 million ounces graded 13.6 grams per tonne. This month Pretium upgraded the Valley of the Kings to 8.7 million ounces measured and indicated, and 4.9 million ounces inferred, with grades of 17.6 grams per tonne and 25.6 g/t, respectively. Pretium is now covered by analysts at Scotiabank. They set a “sector perform” rating and a C$6.00 price target on the stock. 13.6 percent upside from the previous close of $5.28.
Southern Copper Corp. (NYSE:SCCO) is one of the largest copper producers in the world, with mining, smelting and refining facilities located in Peru and Mexico. The company is a subsidiary of Grupo Mexico, headed by Mexican billionaire Carlos Slim. Southern Copper was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy”rating. They now have a $31.00 price target on the stock, up previously from $28.00. 18.3 percent upside from the previous close of $26.20.
Asanko Gold Inc (NYSE:AKG,TSX:AKG) is aiming to become a mid-tier gold producer, with its flagship Esaase project in Southwest Ghana. The mine is targeted to produce 200,000 ounces over a 12-year minelife with first gold expected in the second half of 2015. Last week Asanko made a second takeover bid for PMI Gold (ASX:PVM,TSX:PMV). The company is now covered by analysts at Scotiabank. They set a “sector perform” rating and a C$3.25 price target on the stock. 70.2 percent upside from the previous close of $1.91.
Africa Oil ( TSXV:AOI) is a Canadian oil and gas company with assets in Kenya and Ethiopia as well as Puntland, Somalia, through its 45 percent equity interest in Horn Petroleum (TSXV:HRN). Africa Oil is now covered by analysts at CSFB. They set an “outperform” rating and a C$12.00 price target on the stock. 40.8 percent upside from the previous close of $8.52.
RMP Energy ( TSX:RMP) is an oil and gas junior whose properties are concentrated in West Central Alberta and Southeastern Saskatchewan. RMP is now covered by analysts at Raymond James. They set an “outperform” rating and a C$8.00 price target on the stock. 42.1 percent upside from the previous close of $5.63.
Storm Resources Ltd (TSXV:SRX) is focused on advancing its land position on the Montney natural gas resource in Northeastern British Columbia. The company in November announced the closure of a $30.1 million bought deal financing and a $3.7 million non-brokered financing. Storm Resources is now covered by analysts at RBC Capital. They set an “outperform” rating and a C$4.75 price target on the stock. 23.4 percent upside from the previous close of $3.85.
Securities Disclosure: I, Andrew Topf, hold no investment interest in any of the companies mentioned.
Related reading:
Pretium Comes Out Ahead After Bulk Sample Controversy
Analyst Picks of the Week (December 10-16)
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.