Analysts seem to be feeling optimistic about Teck Resources (TECK.B) lately, with several positive ratings in a row that it received in the past month alone. Today, analyst Stephen Walker gave a Buy rating to TECK.B and set a C$52 price target.
According to TipRanks.com, Walker is a 3-star analyst with an average return of 1.7% and a 43.5% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Novagold Resources Inc New, Teck Resources Limited, and Hudbay Minerals Inc.
Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of C$45.07, implying a 50.9% upside from current levels. In a report issued on December 6, TD Securities also upgraded the stock to Buy with a C$45 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$29.87.
