Teck Resources (TECK) Gets a Buy Rating from B.Riley FBR

By Jason Carr

In a report issued on March 24, Lucas Pipes from B.Riley FBR maintained a Buy rating on Teck Resources (TECKResearch Report), with a price target of C$29.00. The company’s shares closed last Thursday at $10.32.

According to TipRanks.com, Pipes is ranked 0 out of 5 stars with an average return of -15.5% and a 34.8% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Novagold Resources New, US Silica Holdings, and Century Aluminum.

Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of $14.82, a 39.2% upside from current levels. In a report issued on March 20, Deutsche Bank also maintained a Buy rating on the stock with a $14.00 price target.

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The company has a one-year high of $20.10 and a one-year low of $5.60. Currently, Teck Resources has an average volume of 5.05M.

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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.