TD Securities Sticks to Its Buy Rating for Teck Resources (TECK.B)

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Teck Resources (TSX: TECK.B). TD Securities’ analyst Greg Barnes reiterates their Buy rating on the shares, with a C$46 price target.

According to TipRanks.com, Barnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.6% and a 36.6% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties Ltd, Hudbay Minerals Inc, and Centerra Gold Inc.

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Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of C$42.57, which is a 39.4% upside from current levels. In a report issued on October 5, B.Riley FBR also assigned a Buy rating to the stock with a C$46 price target.

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Teck Resources’ market cap is currently C$17.54B and has a P/E ratio of 6.2. The company has a Price to Book ratio of 0.83.

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 opertes through the following business segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate.

The company’s shares closed on Thursday at C$30.53.