Analyst Picks of the Week (December 3-9)

Stock market application on smartphoneThe following resource companies were mentioned by analysts during the week of December 3-9. 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.

 

Augusta Resource Corp. (TSX:AZC) is advancing the Rosemont copper project near Tucson, Arizona. The  large copper/molybdenum reserve of 5.9 billion pounds of copper and 194 million pounds of molybdenum is planned to commence production in 2016. Augusta Resource is now covered by analysts at Scotiabank. They set an “outperform” rating and a C$4.00 price target on the stock. 179.7 percent upside from the previous close of $1.43.

Centerra Gold (TSX:CG) operates and develops gold properties in Asia, the former Soviet Union and other emerging markets. Its goal is 1.5 million ounces of annual gold production. Among Centerra’s properties is the Kumtor mine in the Kyrgyz Republic, which produced 315,238 ounces in 2012. Centerra was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating. They now have a C$6.50 price target on the stock, down previously from C$8.00. 99.4 percent upside from the previous close of $3.26.

Fission Uranium (TSXV:FCU) made a major discovery at the Patterson Lake South property in Saskatchewan, where shallow and high-grade uranium mineralization was found. Fission was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating. They now have a C$2.00 price target on the stock, up previously from C$1.80. 88.7 percent upside from the previous close of $1.06.

Precision Drilling Corp (NYSE:PDS) is the largest rig contractor in Canada. The company was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $11.50 price target on the stock. 31.4 percent upside from the previous close of $8.75.

Canadian Natural Resources (NYSE:CNQ,TSX:CNQ) is the largest producer of heavy oil in Canada and the country’s second largest natural gas producer. CNQ has assets in North America, the North Sea and offshore Africa. Canadian Natural Resources is now covered by analysts at Raymond James. They set a “market perform” rating and a $38.00 price target on the stock. 16.1 percent upside from the previous close of $32.74.

PotashCorp (NYSE:POT,TSX:POT) is the world’s largest fertilizer company, producing about 20 percent of global capacity through the three primary crop ingredients: potash, phosphate and nitrogen. PotashCorp is now covered by analysts at RBC Capital. They set a “sector perform” rating and a $35.00 price target on the stock. 10.1 percent upside from the previous close of $31.79.

Agrium Inc (NYSE:AGU,TSX:AGU) produces and markets nitrogen, phosphate and potash, as well as fertilizers and micronutrients, to North and South American markets. The company claims to be the only company that crossed the entire agricultural value chain. Agrium is now covered by analysts at RBC Capital. They set an “outperform” rating and a $115.00 price target on the stock. 27.1 percent upside from the previous close of $90.49.

Imperial Oil (NYSE:IMO,TSX:IMO) is Canada’s second largest oil company and the country’s largest petroleum refiner. Imperial Oil is now covered by analysts at Raymond James. They set a “market perform” rating and a $50.00 price target on the stock. 17.5 percent upside from the previous close of $42.56.

Suncor Energy (NYSE:SU,TSX:SU) produces synthetic crude from the Canadian oilsands, recovering bitumen through insitu and surface mining operations. Suncor is now covered by analysts at Raymond James. They set an “outperform” rating and a $44.00 price target on the stock. 26.9 percent upside from the previous close of $34.68.

Polymet Mining Corp (NYSE:PLM,TSX:PLM) is developing its NorthMet copper-nickel-precious metals project in Minnesota. The company reached a milestone last week with the completion of the draft Environmental Impact Statement. Polymet was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating. They now have a C$1.45 price target on the stock, down previously from C$2.50. 33.0 percent upside from the previous close of $1.09.

 

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

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