10 Best Nickel Stocks to Invest in According to Analysts

6) Materion Corporation (NYSE:MTRN)

Average Upside Potential: 17.9%

Materion Corporation (NYSE:MTRN)’s products consist of precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium, and copper-based alloys, among others. The principal raw materials it uses are beryllium, tantalum, aluminum, cobalt, copper, gold, nickel, palladium, platinum, ruthenium, silver, and tin.

Materion Corporation (NYSE:MTRN)’s long-term growth momentum is expected to be aided by recovery in the semiconductor industry. With the rebound in the semiconductor industry, the company should be able to capitalize on higher demand for its advanced materials solutions. This should result in revenue growth, which can equate to improved margins due to higher production volumes. Overall, the growth opportunities are expected to come from its proprietary technologies, strategic partnerships, or expansion into new market segments.

When semiconductor manufacturers increase production and invest in new technologies, Materion Corporation (NYSE:MTRN) might see opportunities to expand product offerings and deepen relationships with key customers. This might lead to accelerated revenue growth, margin expansion, and increased market share. The company remains focused on operational optimizations, which include facility closures that might improve margins. Materion Corporation (NYSE:MTRN) is also pursuing new programs in the space sector, pivoting from government to commercial customers.

The company expects a strong Q4 2024, with the continued benefit of its cost and footprint initiatives. Materion Corporation (NYSE:MTRN) anticipates delivering full-year 2024 adjusted earnings of between $5.20 – $5.40 per share. As per Wall Street analysts, the shares of the company have an average price target of $130.00.