Analyst Picks of the Week (January 7-13)

The following resource companies were mentioned by analysts during the week of January 7-13. 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.

 

Premier Gold Mines Ltd. (TSX:PG) holds gold properties in Ontario, including the last piece of the prolific Red Lake trend not owned by Goldcorp (TSX:G,NYSE:GG), and the Cove project located within the multi-million-ounce Eureka-Battle-Mountain trend in Nevada. Premier Gold Mines is now covered by analysts at Scotiabank. They set an “outperform” rating and a C$4.75 price target on the stock. 198.7 percent upside from the previous close of $1.59.

HudBay Minerals (TSX:HBM) has operations focused near Flin Flon and Snow Lake, Manitoba. The 777 mine has produced gold, silver, copper and zinc since 2004, while at Snow Lake, the Lalor project is slated to become Hudbay’s next underground mine. Hudbay was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a C$19.00 price target on the stock, up previously from C$17.00. 124.6 percent upside from the previous close of $8.46.

IAMGOLD Co. (TSX:IMG) has six operating gold mines and one of the world’s three niobium mines. The company produced 830,000 ounces of gold in 2012. IAMGOLD was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a C$5.00 price target on the stock, down previously from C$6.00. 30.5 percent upside from the previous close of $3.83.

Athlon Energy Inc (NASDAQ:ATHL) is an exploration and production company, focused on the acquisition and exploitation of unconventional oil and liquid natural gas reserves in the Permian Basin. Athlon was upgraded by analysts at Howard Weil from a “sector perform” rating to an “outperform”rating. They now have a $38.00 price target on the stock. 33.2 percent upside from the previous close of $28.52.

Cloud Peak Energy Inc. (NYSE:CLD) is one of the largest U.S. coal producers and the only pure-play Powder River Basin coal company. It specializes in the production of low sulfur, sub-bituminous coal. Cloud Peak was upgraded by analysts at FBR Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $24.00 price target on the stock. 43.7 percent upside from the previous close of $16.70.

EPL Oil & Gas Inc. (NYSE:EPL) is an oil and natural gas exploration and producton company. Its operations are focused on the Gulf of Mexico shelf and Gulf Coast. EPL was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a $37.00 price target on the stock. 39.6 percent upside from the previous close of $26.51.

Rex Energy Corp. (NASDAQ:REXX) is engaged in the acquisition, exploration and development of oil, natural gas and natural gas liquids in the Appalachian and Illinois regions. Rex Energy is now covered by analysts at Northland Capital Partners. They set an “outperform” rating and a $25.00 price target on the stock. 37.4 percent upside from the previous close of $18.19.

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 Howard Weil from an “outperform” rating to a “focus stock”rating. They now have a $137.00 price target on the stock. 35.5 percent upside from the previous close of $101.10.

Whiting Petroleum Corp. (NYSE:WLL) controls a large position in the Bakken resource play in North Dakota, where the company is the second largest oil producer in the state. Whiting was upgraded by analysts at Howard Weil from an “outperform” rating to a “focus stock” rating. They now have a $95.00 price target on the stock. 60.2 percent upside from the previous close of $59.29.

Cheniere Energy Partners LP Holdings LLC (NYSE:CQH) is is a Houston-based energy company primarily engaged in LNG-related businesses. Cheniere Energy is now covered by analysts at Credit Suisse. They set an “outperform”rating and a $27.00 price target on the stock. 46.0 percent upside from the previous close of $18.49. 

 

Securities Disclosure: I, Andrew Topf, hold an equity position in Goldcorp.

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Analyst Picks of the Week (December 31 – January 6)