Analysts have been quite happy with Teck Resources (TECK.B) stock lately, with several positive ratings in a row that it received in the past month alone. Today, analyst Brian MacArthur gave a Buy rating to TECK.B and set a C$44 price target.
According to TipRanks.com, MacArthur is a 1-star analyst with an average return of -0.5% and a 49.4% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Barrick Gold Corporation, and Teck Resources Limited.
Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of C$42.33, representing a 31.5% upside. In a report issued on April 15, Canaccord Genuity also reiterated a Buy rating on the stock with a C$39 price target.
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Teck Resources’ market cap is currently C$18.84B and has a P/E ratio of 6.2. The company has a Price to Book ratio of 0.82.
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 Wednesday at C$32.19.
