Analysts seem to be feeling optimistic about Teck Resources (TECK.B) lately, as another research firm gave the stock a Buy rating today. The company received a Buy rating from Raymond James’ analyst Brian MacArthur, with a C$45 price target.
According to TipRanks.com, MacArthur is ranked 0 out of 5 stars with an average return of -4.8% and a 37.9% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Teck Resources Limited.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$43.86 average price target.
Based on Teck Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$3.21 billion and net profit of C$1.28 billion. 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 Wednesday at C$29.88.
