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Is the fund for these 3 actions? Analysts say ‘buy’
Markets are falling, but not collapsing. Investors remain concerned about the coronavirus and Tuesday’s election remains up in the air. Uncertainty dominates the day, compounded by recent market losses. Wall Street, however, expects the bulls to start running again after next week’s results; Who wins will be less important than having a result. Meanwhile, market dips and low stock prices make it a prime time to buy, if you judge the fund correctly. Do that, and the rest is just ‘buy low and sell high’. And to that end, Wall Street analysts have been pointing to stocks that may have bottomed out. Using the TipRanks database, we identified three of those actions. Each is down significantly, but each also has a Strong Buy consensus rating and at least 30% upside potential for the next few months.Fury Gold Mines (FURY) Gold, just the precious metal asset, has turned popular throughout the course of 2020. The coronavirus crisis and investors’ desire for a stable store of value pushed it above $ 2,000 earlier this year, and an ounce of gold is still selling for more than $ 1,800. However, for those who do not have that type of resource, buying gold miners shares may be the best option. Fury Gold Mines is a Toronto-based small-cap mining company focused on exploiting the vast resources of northern Canada. . With mines in British Columbia, northern Quebec and the Nunavut Territory to the far north, Fury has large gold reserves in both open pit and underground mines. Global gold production fell 1% in the last 12 months, giving the first clue that we may be at ‘peak gold’ and prices will soon rise further. That development would bode well for Fury, which is trading at a net loss. The company was formed earlier this year, as a restructuring of Auryn Resources that involved a merger with Eastmain and the divestment of Peruvian mines. The result is a company focused on Canadian development, able to take advantage of Canada’s stable work environment. The shares experienced sharp declines recently, when the new ticker FURY began trading, taking Auryn’s place on the market and maintaining the trading history of the previous company. . The drop sent Fury shares down 67% this month. Covering Cantor’s stock, analyst Matthew O’Keefe sees many advantages ahead. The analyst noted: “Based on a combined gold equivalent resource of 3.9Moz, Fury is trading at $ 43 / oz against its peers at $ 60 / oz. We expect that, as the new management makes its mark with new drilling results (towards the end of 2020 and throughout 2021) and shows the progress of their projects, the stock should go up. ”But how much goes up? O’Keefe’s $ 2.60 price target on FURY suggests a upside potential of 126% for next year and supports its Buy rating. (To view O’Keefe’s track record, click here) Wall Street analysts’ consensus on Fury is a strong Buy, based on 4 ratings from Buy without selling or holding. The stock is selling at $ 1.13 and its median price target of $ 3.37 suggests it has room to nearly double in the next 12 months. (See FURY’s share analysis on TipRanks) Star Bulk Carries (SBLK) Next, Star Bulk Carries, is a shipping company based in Greece specializing in dry bulk shipping, the backbone of the global shipping industry. Star Bulk operates a fleet of 116 carriers, ranging in size from ~ 50,000 tons to giant Newcastlemax bulk carriers with a capacity of over 200,000 tons. Business disruptions caused by the crown were tough on the industry and SBLK was no exception. The stock is down 47% so far this year. However, the company’s financial performance this year has been in line with its historical pattern: the first half of a calendar year shows a net loss, while the second half shows a net profit. Losses in 1H20 were normal for the SBLK pattern, and the outlook for the third quarter is a return to net earnings, with EPS projected at 30 cents. Covering these stocks for Deutsche Bank, analyst Amit Mehrotra makes a number of related points: “[We] We believe that the company’s net debt position should improve by approximately $ 50 million compared to 2Q levels, reflecting a cash flow generation of> $ 40 million of debt repayments in 3Q. We also expect the company’s potential breakeven point to drop to less than $ 11k per day … While we remain frustrated by the lackluster performance of SBLK stock in the context of the aforementioned improvement fundamentals … we continue very convinced that the intrinsic value of SBLK shares the value is improving in the current environment … “Mehrotra sums up his opinion of Star Bulk succinctly:” Overall, we are encouraged by the fundamental trajectory of the company … “The analyst rates SBLK as Buy, while its price target of $ 15 implies a potential upside of 143% from current levels. (To view Mehrotra’s history, click here) With 3 recent reviews of Buy, SBLK has a unanimous Strong Buy rating based on analyst consensus. The stock is currently trading at $ 6.18 and has an average target price of $ 12.09, bringing the one-year rise to 96%. ( See the analysis of exist SBLK (s) in TipRanks Heritage-Crystal Clean (HCCI) Contamination is a problem no matter what. We all want a clean environment to live in, and we should all be concerned about how modern industrial pollutants are removed. Heritage-Crystal Clean inhabits that cleaning niche, providing environmental cleaning services, including vacuum services for street cleaning, cleaning technology for mechanical and light industrial parts, and a variety of waste recovery services including recovery and disposal. oil and petroleum products, antifreeze, and industrial liquid waste in general. It is an important, often overlooked and vital niche in a modern technological society. After a dip into negative territory in the second quarter, HCCI reported stronger results for the third quarter. Revenue increased sequentially from $ 74 million to $ 82 million, and EPS went from a loss of 31 cents to a gain of 18 cents. Despite the positive results, both earnings and revenues remain depressed compared to the prior-year quarter, and the stock has been unable to regain traction after last March’s slide. The HCCI is down 49% so far this year. Roth Capital’s Gerry Sweeney, commenting on this action, notes that “revenue continues to rebound as economic activity improves from refuge-in-place claims from COVID … The highlight of the quarter was a margin rebound faster than anticipated. While margins are still below last year’s pre-pandemic level of 25.7%, they are above 2Q margins of (28.2%). The improvement was driven by higher labor utilization and asset leverage, lower solvent costs, and internalization of waste disposal… ”Sweeney rates the stock with a Buy. Its $ 21 price target indicates confidence in a solid 32% upside for next year. (To view Sweeney’s history, click here.) Over the past three months, three other analysts have come up with an opinion on HCCI. The three additional Buy ratings provide the stock with a Strong Buy consensus rating. With an average price target of $ 20.75, investors can take home a 30% profit, if the target is met within the next 12 months. (See HCCI’s stock analysis on TipRanks) To find good ideas for trading overdue stocks with attractive valuations, visit TipRanks Best Stocks to Buy, a recently launched tool that brings together all TipRanks stock perspectives. article are solely those of featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
