MetalsChannel.com
Analysts Expect 12% Upside For The Holdings of EQALBy Metals Channel Staff, Monday, January 22, 6:55 AM ETLooking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Invesco Russell 1000 Equal Weight ETF (NYSE:EQAL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $48.22 per unit. With EQAL trading at a recent price near $42.97 per unit, that means that analysts see 12.22% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of EQAL's underlying holdings with notable upside to their analyst target prices are MP Materials Corp (NYSE:MP), SSR Mining Inc (NASDAQ:SSRM), and Newmont Corp (NYSE:NEM). Although MP has traded at a recent price of $15.80/share, the average analyst target is 75.49% higher at $27.73/share. Similarly, SSRM has 66.08% upside from the recent share price of $9.80 if the average analyst target price of $16.28/share is reached, and analysts on average are expecting NEM to reach a target price of $52.98/share, which is 53.22% above the recent price of $34.58. Below is a twelve month price history chart comparing the stock performance of MP, SSRM, and NEM:
Below is a summary table of the current analyst target prices discussed above:
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research. The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
This Article's Word Cloud:
Analyst
Below
Corp
EQAL
ETFs
Equal
FREEGet
Invesco
Materials
Mining
NYSE
Newmont
Russell
SSRM
Target
Upside
Weight
With
Zacks
about
above
analyst
analysts
average
background
based
border
bottom
color
data
font
from
have
hctblstyle
holdings
implied
latest
mdash
month
price
recent
report
research
share
target
targets
that
trading
underlying
upside
|
Start slideshow:Analysts Expect 12% Upside For The Holdings of EQAL | www.MetalsChannel.com
Copyright © 2010 - 2024, All Rights Reserved Nothing in Metals Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and metals videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Metals Channel; Meet Our Editorial Staff.