In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Teck Resources (TECK.B). Analyst Oscar Cabrera from CIBC remains bullish on the stock and has a C$41 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -13.3% and a 33.7% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.
Currently, the analyst consensus on Teck Resources is a Strong Buy with an average price target of C$43.63, representing a 52.2% upside. In a report issued on February 4, Raymond James also maintained a Buy rating on the stock with a C$46 price target.
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Teck Resources’ market cap is currently C$16.48B and has a P/E ratio of 5. The company has a Price to Book ratio of 0.74.
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 Friday at C$28.66.
