CIBC Reiterates a Buy Rating on Teck Resources (TECK.B)


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Teck Resources (TECK.B). Analyst Oscar Cabrera from CIBC rated Teck Resources (TECK.B) a Buy yesterday, setting a C$45 price target.

According to TipRanks.com, Cabrera is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.0% and a 31.1% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$44.14 average price target, which is a 54.1% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$45 price target.

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Teck Resources’ market cap is currently C$17.18B and has a P/E ratio of 5. The company has a Price to Book ratio of 0.77.

Teck Resources Ltd. is a diversified resource company, which engages in the mining and mineral development of copper, steelmaking coal, zinc, and energy properties. The firm also produces germanium and indium. It opertes through the following business segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate.

The company’s shares closed on Thursday at C$28.63.

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