Scotiabank Thinks Teck Resources’ Stock is Going to Recover


A Wall Street analyst has provided a review for the Materials company on October 25, but retained the same rating on the stock. Analyst Orest Wowkodaw from Scotiabank rated Teck Resources (TSX: TECK.B) a Buy on October 25, setting a C$42.50 price target.

According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 14.9% and a 49.6% 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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Currently, the analyst consensus on Teck Resources is a Strong Buy with an average price target of C$42.56, representing a 73.9% upside. In a report issued on October 11, TD Securities also reiterated a Buy rating on the stock with a C$46 price target.

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The company has a one-year high of C$39.08 and a one-year low of C$23.90. Currently, Teck Resources has an average volume of 1.56M.

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 Monday at C$24.48, close to its 52-week low of C$23.90.

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