Teck Resources (TSX: TECK.B), the Materials sector company, has received a rating update from a Wall Street analyst on October 10. Analyst Orest Wowkodaw from Scotiabank reiterated a Buy rating, with a C$45 price target on October 10.
According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 19.9% and a 52.5% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Nevsun Resources Ltd, and Taseko Mines Limited.
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Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of C$42.71, representing a 40.3% upside. In a report issued on October 5, B.Riley FBR also assigned a Buy rating to the stock with a C$46 price target.
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Based on Teck Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$3.02 billion and net profit of C$634 million. 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 Friday at C$30.45.
