Analyst Picks of the Week (December 10-16)

Analyst Picks of the Week (December 10-16)

The following resource companies were mentioned by analysts during the week of December 10-16. 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.

Bonanza Creek Energy (NYSE:BCEI) is an oil and gas company whose operations are focused in the Wattenberg field in the DJ Basin of Colorado and the Cotton Valley sands of southern Arkansas. The company was upgraded by analysts at KLR Group from an “accumulate” rating to a “buy” rating. They now have a $62.00 price target on the stock. 42.0 percent upside from the previous close of $43.67.

Goodrich Petroleum (NYSE:GDP) is developing oil and gas properties primarily in South and East Texas, Northwest and Southeast Louisiana, and Southwest Mississippi. Goodrich was upgraded by analysts at KLR Group from an “accumulate” rating to a “buy” rating. They now have a $26.00 price target on the stock. 52.2 percent upside from the previous close of $17.08. Also last week, Goodrich received coverage from Northland Securities, which set an “outperform” rating and a $30.00 price target on the stock — 75.6 percent upside from the previous close of $17.08.

PDC Energy (NASDAQ:PDCE) is pursuing growth through horizontal drill programs, and is currently focused on the Wattenberg field in Colorado and the Appalachian Basin, specifically the Utica Shale of Southeast Ohio and the Marcellus Shale of West Virginia. PDC Energy was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $75.00 price target on the stock. 31.2 percent upside from the previous close of $57.17.

Platinum Group Metals(TSX:PTM) holds mineral rights in the Bushveld Igneous Complex of South Africa, where it is advancing its Western Bushveld Joint Venture platinum deposit. The company was upgraded by analysts at Mackie from a “hold” rating to a “speculative buy” rating. They now have a C$1.60 price target on the stock, up previously from C$1.20. 28.0 percent upside from the previous close of $1.25.

Targa Resources (NYSE:TRGP) is one of the largest midstream energy companies in North America, according to its website, and has a leading position at Mont Belvieu, a natural gas liquids hub. Targa is now covered by analysts at Goldman Sachs Group Inc. They set a “buy” rating and a $97.00 price target on the stock. 22.8 percent upside from the previous close of $79.01.

ArcelorMittal (NYSE:MT) is a leading supplier of steel products in several markets including automotive, construction, household appliances and packaging, with a presence in over 60 countries. Arcelormittal is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $22.00 price target on the stock. 32.9 percent upside from the previous close of $16.56.

Cimarex Energy (NYSE:XEC) is an oil and gas exploration and production company with operations mainly in Oklahoma, Texas, New Mexico and Kansas. Cimarex is now covered by analysts at Wunderlich. They set a “buy” rating and a $135.00 price target on the stock. 39.0 percent upside from the previous close of $97.14.

Lake Shore Gold (TSX:LSG) has three multi-million ounce gold complexes in the Timmins Gold Camp of Northern Ontario. Last week Lake Shore upped its 2014 production guidance to between 160,000 and 180,000 ounces from the previous 140,000 to 160,000 oz. The company was upgraded by analysts at RBC Capital from an “underperform” rating to a “sector perform” rating. They now have a C$0.75 price target on the stock, up previously from C$0.50. 59.6 percent upside from the previous close of $0.47.

Cabot Oil & Gas (NYSE:COG) is an oil and gas company focused on the Marcellus Shale in Northeast Pennsylvania and the Eagle Ford Shale in South Texas. Cabot is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $47.00 price target on the stock. 30.1 percent upside from the previous close of $36.12.

Freeport-McMoRan Copper & Gold (NYSE:FCX) is one of the largest producers of copper and gold, and operator of the Grasberg mine in Indonesia, the world’s largest copper-gold mine by recoverable reserves. Freeport is now covered by analysts at Sanford C. Bernstein. They set an “outperform”rating and a $42.00 price target on the stock. 21.9 percent upside from the previous close of $34.45.

 

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

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