In a latest note to investors, a research analyst has provided a rating update for the Teck Resources (TECK.B). Analyst Lucas Pipes from B.Riley FBR remains bullish on the stock and has a C$48 price target.
According to TipRanks.com, Pipes is a 1-star analyst with an average return of -0.9% and a 44.8% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Covia Holdings Corporation, and Hallador Energy Company.
Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of C$45.21, representing a 49.0% upside. In a report issued on January 9, BMO Capital also initiated coverage with a Buy rating on the stock.
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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$3.21 billion and had a net profit of C$760 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 Friday at C$30.34.
