Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Teck Resources (TECK – Research Report) today and set a price target of C$80.00. The company’s shares closed today at $51.46.
According to TipRanks, Baretto is a top 100 analyst with an average return of 28.3% and a 59.39% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources, Hudbay Minerals, and Lundin Mining.
In addition to Canaccord Genuity, Teck Resources also received a Buy from Raymond James’s Brian MacArthur in a report issued on April 29. However, today, UBS downgraded Teck Resources (NYSE: TECK) to a Hold.
Based on Teck Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.11 billion and a net profit of $483 million. In comparison, last year the company earned a revenue of $3.14 billion and had a net profit of $640 million
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TECK in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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