Analysts Predict Growth for SPDR S&P Global Natural Resources ETF
Using data from ETF Channel, we analyzed the SPDR S&P Global Natural Resources ETF (Symbol: GNR) to learn how it might perform over the next year based on analyst targets. The implied target price for GNR, calculated from its underlying holdings, stands at $62.97 per unit.
Current Performance and Growth Potential
Currently trading at around $56.61 per unit, GNR is seen by analysts as having an upside potential of 11.24%. Several of GNR’s underlying stocks present notable possibilities for growth. For instance, Suzano SA (Symbol: SUZ) is currently priced at $9.72 per share, with analysts forecasting a target price of $17.00 per share, indicating a substantial upside of 74.90%. Similarly, Vale SA (Symbol: VALE) shows a potential increase of 38.59% from its recent price of $10.74, with a projected target of $14.88 per share. Cenovus Energy Inc (Symbol: CVE) is expected to reach a target price of $23.06 per share, representing a 35.81% upside from its recent trading price of $16.98. Below is a chart depicting the twelve-month price history of these stocks:
Summary of Analyst Target Prices
Here’s a quick overview of the current prices and analyst targets for GNR and its underlying holdings:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| SPDR S&P Global Natural Resources ETF | GNR | $56.61 | $62.97 | 11.24% |
| Suzano SA | SUZ | $9.72 | $17.00 | 74.90% |
| Vale SA | VALE | $10.74 | $14.88 | 38.59% |
| Cenovus Energy Inc | CVE | $16.98 | $23.06 | 35.81% |
The Outlook Ahead
Questions linger about the validity of these analyst forecasts. Are they grounded in solid justifications, or could they be overly optimistic? A significant difference between a stock’s current price and its target can indicate hopeful projections, but it may also foreshadow potential target price adjustments if these targets don’t align with market realities. Investors will need to conduct thorough research to navigate these uncertainties.
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Also see:
NRZ Historical Stock Prices
VPRB Insider Buying
IDHQ Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
