BMO Capital Remains a Buy on Teck Resources (TECK.B)

By Ryan Adsit

A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Jackie Przybylowski from BMO Capital rated Teck Resources (TECK.BResearch Report) a Buy, setting a C$48 price target.

According to TipRanks.com, Przybylowski is a 1-star analyst with an average return of -4.4% and a 34.4% success rate. Przybylowski covers the Basic Materials sector, focusing on stocks such as Trevali Mining Corporation, First Quantum Minerals Ltd, and Teck Resources Limited.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$43.13 average price target, implying a 44.5% upside from current levels. In a report released today, RBC Capital also maintained a Buy rating on the stock with a C$48 price target.

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Based on Teck Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$3.11 billion and net profit of C$630 million. In comparison, last year the company earned revenue of C$3.09 billion and had a net profit of C$759 million.

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 company’s shares closed on Thursday at C$29.84.