Teck Resources (TECK): New Buy Recommendation for This Basic Materials Giant


Teck Resources (TECK): New Buy Recommendation for This Basic Materials Giant

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Crittenden covers the Basic Materials sector, focusing on stocks such as Teck Resources, Ivanhoe Mines, and Capstone Copper. According to TipRanks, Crittenden has an average return of 17.9% and a 56.00% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a $51.50 average price target, a 27.92% upside from current levels. In a report released on February 25, Morgan Stanley also maintained a Buy rating on the stock with a $52.50 price target.

Based on Teck Resources' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.79 billion and a net profit of $399 million. In comparison, last year the company earned a revenue of $4.11 billion and had a net profit of $483 million

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TECK in relation to earlier this year.

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