RBC Capital Reiterates Their Buy Rating on Teck Resources (TECK)


RBC Capital analyst Sam Crittenden reiterated a Buy rating on Teck Resources (TECK) today and set a price target of C$24.00. The company’s shares closed last Monday at $7.29, close to its 52-week low of $5.60.

According to TipRanks.com, Crittenden has currently no stars on a ranking scale of 0-5 stars, with an average return of -21.6% and a 27.8% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Nexa Resources SA, and Freeport-McMoRan.

Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of $19.19, implying a 138.4% upside from current levels. In a report issued on March 10, B.Riley FBR also maintained a Buy rating on the stock with a C$31.00 price target.

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Based on Teck Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.66 billion and GAAP net loss of $1.84 billion. In comparison, last year the company earned revenue of $3.25 billion and had a net profit of $433 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. The Steelmaking Coal segment exports steelmaking coal. The Copper segment produces copper in Canada, Chile, Peru, North America, and South America. The Zinc segment operates fully integrated zinc, lead smelting, and refining facilities. The Energy segment covers the oil sands mining and processing operations. The Corporate segment provides administrative, technical, financial, and other support to all of the business units. The company was founded on September 24, 1951 and is headquartered in Vancouver, Canada.

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