In a report issued on March 10, Lucas Pipes from B.Riley FBR maintained a Buy rating on Teck Resources (TECK), with a price target of C$31.00. The company’s shares closed last Monday at $8.16, close to its 52-week low of $7.85.
According to TipRanks.com, Pipes has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.4% and a 34.8% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a $20.85 average price target, implying a 142.7% upside from current levels. In a report issued on February 24, RBC Capital also maintained a Buy rating on the stock.
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Based on Teck Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $675 million. In comparison, last year the company had a net profit of $328 million.
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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.
