Analyst Picks of the Week (November 25 - December 2)

The following resource companies were mentioned by analysts during the week of Nov. 25 – Dec. 2. 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.

Marathon Petroleum (NYSE:MPC) is one of the largest refiners of petroleum products in the United States. Marathon was upgraded by analysts at Deutsche Bank from a “hold” rating to a “buy” rating. They now have a $108.00 price target on the stock, up previously from $80.00. 30.5 percent upside from the previous close of $82.74.

Franco Nevada(NYSE:FNV,TSX:FNV) is a gold-focused royalty and streaming company with assets throughout the world including the United States, Australia, Canada, Mexico and Africa. Franco Nevada is now covered by analysts at Raymond James. They set a “market perform” rating and a $43.00 price target on the stock. 6.6 percent upside from the previous close of $40.35.

Nevsun Resources (NYSE:NSU,TSX:NSU) operates the Bisha mine in Eritrea, one of the highest grade open-pit copper mines in the world, according to the company. Yesterday Nevsun announced that it has reached commercial production for a copper expansion at the mine following the successful commissioning of its flotation plant. Nevsun was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating. They now have a C$4.50 price target on the stock, up previously from C$4.00. 35.1 percent upside from the previous close of $3.33.

Dalradian Resources (TSX:DNA) is focused on developing its Curraghinalt gold deposit in northern Ireland.  Dalradian Resources is now covered by analysts at Canaccord Genuity. They set a “speculative buy” rating and a C$0.80 price target on the stock. 45.5 percent upside from the previous close of $0.55.

Agnico-Eagle Mines(NYSE:AEM,TSX:AEM) is a gold producer with 6 mines located in Canada, Finland and Mexico. Agnico-Eagle was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $36.00 price target on the stock, up previously from $28.00. 35.5 percent upside from the previous close of $26.56.

Paramount Resources (TSX:POUexplores for, develops and transports petroleum and natural gas. It has four operating units: the Kaybob region of Alberta; Grand Prairie; the Northern area including Northwest Alberta, the Northwest Territories and Northeast British Columbia; and the Southern area which includes production from southern Alberta. Paramount is now covered by analysts at Raymond James. They set a “strong-buy” rating and a C$54.00 price target on the stock. 52.5 percent upside from the previous close of $35.40.

Trilogy Energy(TSX:TET) is focused on tight gas reservoirs where horizontal drilling technology can be used to add low-cost reserves and grow production. Trilogy is now covered by analysts at Raymond James. They set an “outperform” rating and a C$37.00 price target on the stock. 38.5 percent upside from the previous close of $26.71.

High Arctic Energy Services (TSX:HWO) is an oilfield services contractor operating mostly in Western Canada and Papua New Guinea. High Arctic is now covered by analysts at Pi Financial. They set a “buy” rating and a C$4.00 price target on the stock. 25.0 percent upside from the previous close of $3.20.

 

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

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Analyst Picks of the Week (Nov. 13-18)