Teck Resources (TECK): New Buy Recommendation for This Basic Materials Giant

Benchmark Co. analyst Nathan Martin reiterated a Buy rating on Teck Resources (TECK – Research Report) today and set a price target of $52.00. The company’s shares closed last Friday at $46.73.

According to TipRanks, Martin is a 5-star analyst with an average return of 32.4% and a 72.00% success rate. Martin covers the Basic Materials sector, focusing on stocks such as Teck Resources, Arch Resources, and Suncoke Energy.

Currently, the analyst consensus on Teck Resources is a Strong Buy with an average price target of $48.30, implying a 3.36% upside from current levels. In a report released on April 5, National Bank also maintained a Buy rating on the stock with a C$77.50 price target.

TECK market cap is currently $24.17B and has a P/E ratio of 13.51.

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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.