Analyst Picks of the Week (Nov. 5-12)

- November 12th, 2013

EnCana Corp, Devon Energy and Southern Copper were among the companies mentioned by analysts last week as having strong upside potential.

The following resource companies were mentioned by analysts during the week of Nov. 5-12. 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.

 

EnCana Corp (NYSE:ECA,TSX:ECA) is an energy producer that extracts oil, natural gas and natural gas liquids from resource plays throughout North America. EnCana was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating. Analyst price targets on the stock ranged from $22.00 to $22.50, with Deutsche Bank predicting a 20.0 percent upside from the previous close of $18.34, and National Bank Financial showing a 22.7 upside from the same previous closing price.

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 Cowen and Company from an “underperform” rating to a “market perform” rating. They now have a $30.00 price target on the stock, up previously from $24.00. 6.9 percent upside from the previous close of $28.07.

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. B2Gold is now covered by analysts at Scotiabank. They set an “outperform” rating and a C$4.00 price target on the stock. 60.6% upside from the previous close of $2.49.

Concho Resources Inc. (NYSE:CXO) operations are focused in the Permian Basin of southeast New Mexico and West Texas, where the company is developing oil and natural gas properties. Concho was upgraded by analysts at SunTrust from a “neutral” rating to a “buy” rating. They now have a $145.00 price target on the stock, up previously from $110.00.  37.1 percent upside from the previous close of $105.80.

Devon Energy Corp. (NYSE:DVN) is an oil and gas company with onshore operations in the US and Canada. Devon also owns natural gas pipelines and treatment facilities, making the company one of North America’s largest processors of natural gas liquids. Devon is now covered by analysts at Global Hunter Securities. They set a “neutral” rating and a $72.00 price target on the stock. 20.5 percent upside from the previous close of $59.76.

Rosetta Resources Inc. (NASDAQ:ROSE) is a leading oil producer in the Eagle Ford Shale in south Texas, and holds a large oil-weighted position in the Permian Basin area of west Texas. Rosetta was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. 21.4 percent upside from the previous close of $53.56.

Gulfport Energy Corp. (NASDAQ:GPOR) has an oil natural gas portfolio of proven reserves, with its principal properties located in the Utica Shale of eastern Ohio and along the Louisiana Gulf Coast. Gulfport also holds a significant acreage position in the Canadian oil sands through its interests in Grizzly Oil Sands ULC and Diamondback Energy Inc. (NASDAQ:FANG). Gulfport is now covered by analysts at Deutsche Bank. They set a “buy” rating and a $75.00 price target on the stock. 31.6 percent upside from the previous close of $56.99.

Bonanza Creek Energy Inc. (NYSE:BCEI) is focused on the Niobrara oil shale in Colorado and the oily Cotton Valley sands in Arkansas. Bonanza Creek Energy was upgraded by analysts at Wunderlich from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock, up previously from $59.00. 18.6 percent upside from the previous close of $50.58.

Alon USA Energy Inc. (NYSE:ALJrefines and markets petroleum products across the western and south-central United States. The company was upgraded by analysts at Credit Suisse from an “underperform” rating to a “neutral” rating. They now have a $14.00 price target on the stock, up previously from $11.00. 36.7 percent upside from the previous close of $10.24.

 

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

Related reading:

Analyst Picks of the Week (Oct. 29-Nov. 4)

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