Teck Resources (TECK.B) Got Some Good News


Today, an analyst has provided a rating update for the Materials sector company, Teck Resources (TECK.B). TD Securities’ analyst Greg Barnes upgraded TECK.B to Buy , with a C$45 price target.

According to TipRanks.com, Barnes is ranked 0 out of 5 stars with an average return of -6.0% and a 38.8% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Teck Resources Limited.

Currently, the analyst consensus on Teck Resources is a Strong Buy with an average price target of C$44.43, which is a 54.2% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$45 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 1.72M.

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 Thursday at C$28.83.

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