Teck Resources (TECK.B) has received a rating update from a Wall Street analyst today. Raymond James’ analyst Brian MacArthur reiterates their Buy rating on the shares, with a C$43 price target.
According to TipRanks.com, MacArthur is a 1-star analyst with an average return of -0.3% and a 48.1% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Osisko Gold Royalties Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$42.13 average price target, a 35.6% upside from current levels. In a report released today, MKM Partners also maintained a Buy rating on the stock.
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Teck Resources’ market cap is currently C$17.44B and has a P/E ratio of 5.8. The company has a Price to Book ratio of 0.76.
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 operates through the following business segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate.
The company’s shares closed on Thursday at C$31.06.
