Analyst Picks of the Week

• Vedanta Resources (LSE:VED) is a London-listed company with interests in zinc, lead, silver, copper, iron ore, aluminum, power and oil and gas. For the quarter ended June 30, 2013, Vedanta said its metal production was up 27 percent and that power generation at its Jharsuguda power plant was up 34 percent. Vedanta was upgraded by analysts at AlphaValue to a “reduce” rating. They now have a GBP 1,126.2 ($17.61) price target on the stock, up previously from GBP 1,086.3 ($16.98). Vedanta closed at GBP 1,1183 on Monday.

• Southern Copper (NYSE:SCCO) is one of the largest copper producers in the world, with mining, smelting and refining facilities located in Peru and Mexico. Southern Copper is a subsidiary of Grupo Mexico, headed by Mexican billionaire Carlos Slim. Southern Copper is now covered by analysts at BMO Capital Markets. They set a “market perform” rating and a $30 price target on the stock. 5.8-percent upside. Southern Copper closed at $28.44 on Monday.

• EnCana (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 RBC Capital from a “sector perform” rating to an “outperform” rating. They now have a $22 price target on the stock. 26.4-percent upside. Encana closed at $17.71 on Monday.

• Cliffs Natural Resources (NYSE:CLF) is a major US-based coal and iron ore producer. Cliffs has operations in Eastern Canada, Michigan, Alabama and Australia. Cliffs was downgraded by analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $26 price target on the stock. 10-percent upside. Cliffs closed at $22.03 on Monday.

• Agnico-Eagle Mines (NYSE:AEM,TSX:AEM) is a Canadian gold producer with operations in Quebec, Nunavut, Mexico and Finland. At its flaship LaRonde gold mine, Agnico-Eagle plans to ramp up production to over 300,000 ounces annually. Agnico-Eagle was upgraded by analysts at Dundee Securities to a “neutral” rating. It closed at $26.71 on Monday.

• Pioneer Natural Resources (NYSE:PXD) is an oil and gas company active in Texas, Alaska, the Rockies and Mid-Continent Region. Pioneer was downgraded by analysts at Topeka Capital Markets from a “buy” rating to a “hold” rating. They now have a $195 price target on the stock, down previously from $200. 5.5-percent upside. Pioneer closed at $185 on Monday.

• Sherritt International (TSX:S) mines nickel in Canada, Cuba, Indonesia and Madagascar. It is the largest thermal coal producer in Canada and the largest independent energy producer in Cuba. Sherritt was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating. They now have a C$5 price target on the stock, down previously from C$6. 31.9-percent upside. Sherritt closed at $3.90 on Monday.

• Strategic Oil & Gas (TSXV:SOG) is in the business of upstream oil and gas exploitation and development, with operations focused in Alberta and British Columbia. Strategic Oil & Gas is now covered by analysts at National Bank Financial. They set an “outperform” rating and a C$1.50 price target on the stock. 50-percent upside. Strategic Oil & Gas closed at $1.01 on Monday.

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