Today, an analyst has provided a rating update for Teck Resources (TSX: TECK.B). Analyst Oscar Cabrera from CIBC rated Teck Resources (TSX: TECK.B) a Buy, setting a C$43 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -24.3% and a 18.8% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$41.88 average price target, implying a 70.7% upside from current levels. In a report issued on October 25, Scotiabank also reiterated a Buy rating on the stock with a C$42.50 price target.
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Based on Teck Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$3.21 billion and net profit of C$1.28 billion. In comparison, last year the company earned revenue of C$3.13 billion and had a net profit of C$600 million.
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 Tuesday at C$24.53, close to its 52-week low of C$23.90.
