In a report released yesterday, Sam Crittenden from RBC Capital reiterated a Buy rating on Teck Resources (TECK – Research Report), with a price target of C$78.00. The company’s shares closed yesterday at $49.54.
Crittenden covers the Basic Materials sector, focusing on stocks such as Lundin Mining, First Quantum Minerals, and Hudbay Minerals. According to TipRanks, Crittenden has an average return of 22.3% and a 62.73% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a $52.81 average price target, representing a 6.60% upside. In a report released on April 23, Raymond James also maintained a Buy rating on the stock with a C$70.00 price target.
The company has a one-year high of $50.46 and a one-year low of $34.22. Currently, Teck Resources has an average volume of 4.05M.
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Teck Resources (TECK) Company Description:
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.
