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

By Ryan Adsit

Teck Resources (TSX: TECK.B), the Materials sector company, was revisited by a Wall Street analyst on October 26. Analyst Greg Barnes from TD Securities rated Teck Resources (TSX: TECK.B) a Buy on October 26, setting a C$43 price target.

According to TipRanks.com, Barnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.8% and a 33.0% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Centerra Gold Inc, and Franco Nev Corp.

Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering

Currently, the analyst consensus on Teck Resources is a Strong Buy with an average price target of C$42.36.

The company has a one-year high of C$39.08 and a one-year low of C$23.90. Currently, Teck Resources has an average volume of 1.56M.

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 Friday at C$24.80, close to its 52-week low of C$23.90.