The bottom for these 3 stocks? Analysts say ‘Buy’
The market is falling, but not collapsing. Investors are still concerned about the coronavirus and Tuesday’s election is still in progress. Uncertainty takes place during the day, exacerbated by recent market losses. However, Wall Street expects that the bulls will begin to react after next week̵7;s results – who wins is less important than results. Meanwhile, the market is down and the stock price low is an important time to buy – if you predict the bottom correctly. Do it, and the rest is just ‘buy low and sell high.’ And finally, Wall Street analysts have pointed to stocks that may have bottomed out. Using the TipRanks database, we have precisely identified three such stocks. Each has a significant drop, but each also has a Strong Buy consensus rating and at least 30% upside potential in the coming months. The Prosperous Gold Mine (FURY) Gold – just a precious metal asset – became popular throughout 2020. The coronavirus crisis and investors’ desire for a stable store of value pushed it forward. to over $ 2,000 earlier this year and an ounce of gold is still being sold for more than $ 1,800. For those who don’t have that kind of resources, however, buying shares from gold miners could be the next best thing. Fury Gold Mines is a small cap mining company headquartered in Toronto and focused on harnessing the vast resources of Northern Canada. . With mines in British Columbia, northern Quebec and the northernmost territory of Nunavut, Fury has large reserves of gold in both open and underground mines. World gold production has dropped 1% in the past 12 months, the first hint is that we may be at the ‘peak’ and prices will rise even more soon. That development would bode well for Fury, the net loss company. The company was formed earlier this year, as a restructuring of Auryn Resources, involving a merger with Eastmain and divestment of mines in Peru. The result is a company focused on Canadian growth that can take advantage of Canada’s stable work environment. Stocks have fallen sharply lately, when the FURY token first started trading, taking Auryn’s place in the market and keeping the company’s trading history older. Analyst Matthew O’Keefe thinks Fury shares are down 67% this month. “Based on the equivalent of 3.9Moz total gold resources, Fury is trading $ 43 / oz against peers at $ 60 / oz. We expect that, as management,” the analyst noted. Just make a mark with new drilling results (in late 2020 and throughout 2021) and show progress in its projects, the stock will rise. “But by how much? O’Keefe’s $ 2.60 price target in FURY shows 126% upside potential over the next year and supports his Buy rating. (To see O’Keefe’s performance click here) Wall Street analyst consensus on Fury is Strong Buy, based on 4 ratings Buy no Sell or Hold. The stock is being sold for $ 1.13 and its average price target of $ 3.37 shows it is likely to nearly double over the next 12 months. (See FURY stock analysis on TipRanks) Star Bulk Carries (SBLK) Next, Star Bulk Carries, is a Greek-based shipping company specializing in dry shipping, the backbone of the shipping industry. world. Star Bulk operates a fleet of 116 aircraft carriers, ranging in size from ~ 50,000 tons, to the giant Newcastlemax rated bulk carrier over 200,000 tons. The corona-induced commercial disruption has made it difficult for the industry and SBLK is no exception. Shares are down 47% so far. However, the company’s financial performance this year is still consistent with its historical model – the first half of the calendar year has a net loss, while the second half of the year is net profit. A 1H loss is normal for SBLK’s model – and the outlook for Q3 is a return to net profit, with expected EPS at 30 cents.[We] assume that the company’s net debt position will improve by approximately $ 50 million from Q2, reflecting cash flow generation in excess of> $ 40 million in repayment payments in Q3. We also expect the The company’s potential break-even point will drop to below $ 11k per day… While we are still disappointed with the lackluster performance of SBLK stock amid the above improved fundamentals… we still very reassured that the intrinsic value of value SBLK equity is improving in the current environment… ”Mehrotra briefly summarized his views on Star Bulk:“ Overall, we are encouraged by the fundamental trajectory of the company… ”The analyst rates SBLK as Buy, while his $ 15 price target implies a potential 143% increase from current levels. (To view Mehrotra’s tracking profile, click here) With 3 Recent Buy reviews, SBLK holds a Strong Buy rating that is unanimous from analyst consensus. The stock is currently trading at $ 6.18 and has an average target price of $ 12.09, making for a one-year gain of 96%. (See SBLK stock analysis on TipRanks) Heritage-Clean Crystal (HCCI) Pollution is an issue, no problem. We all want a clean environment to live in and we should all be concerned about how modern industrial pollutants are handled. Heritage-Crystal Clean lives to clean niches, provides environmental cleaning services, including vacuuming service for street cleaning, cleaning technology for mechanical and light industrial parts and a wide range of services Waste recovery includes recovery and treatment of oil and oil products, antifreeze, and general industrial liquid waste. This is an important, often overlooked and important niche in a modern tech society. After sinking into negative territory in Q2, HCCI reported better results for the third quarter. Sequential revenue increased from $ 74 million to $ 82 million, and EPS turned from a 31-cent loss to a 18 cents increase. Despite the positive results, both earnings and sales fell QoQ and stocks were unable to regain traction after last March’s decline. In my comments on this stock, HCCI fell 49%. Gerry Sweeney of both these funds noted that “Revenue continues to recover as economic performance improves from the COVID shelter on the order … The highlight in the quarter was faster than the predicted recovery. about the rate of return. Although the margins were still down from last year’s pre-pandemic level of 25.7%, they were up from the 2nd quarter profit margin (28.2%). This improvement is driven by higher employment and asset leverage, lower solvent costs and internal waste disposal… ”Sweeney rates the stock as Buy. His $ 21 price target shows confidence in a solid 32 percent gain over the next year. (To see Sweeney’s performance, click here.) Over the past three months, three other analysts have taken their hats off of their views on HCCI. Three additional Buy ratings give the stock a strong Buy consensus rating. With an average price target of $ 20.75, investors can take home a 30% increase, if the target is reached over the next 12 months. (See HCCI stock analysis at TipRanks) For good ideas for trading undervalued stocks at attractive valuations visit the Best Stocks to Buy of TipRanks, a new tool. Eye that unifies all knowledge about the equity of TipRanks. The article is just that of prominent analysts. Content is used for informational purposes only. It is very important to do your own analysis before making any investments.