Teck Resources Ltd (TCK) : Analyst Rating Update

Teck Resources Ltd (TCK) : The consensus on Teck Resources Ltd (TCK) based on 13 analyst recommendation on the company stock is 3.33, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 4 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Teck Resources Ltd (TCK).

Teck Resources Ltd (TCK) : The highest short term price target forecast on Teck Resources Ltd (TCK) is $16 and the lowest target price is $3. A total of 11 equity analysts are currently covering the company. The average price of all the analysts is $9.04 with a standard deviation of $3.52.

Teck Resources Ltd (NYSE:TCK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.10 and $12.90 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.45, notching a gain of 1.13% for the day. The total traded volume was 6,903,380 . The stock had closed at $13.30 on the previous day.

Also, Goldman Sachs initiates coverage on Teck Resources Ltd (NYSE:TCK). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Goldman Sachs announces a current price target of $12 per share. The rating by the firm was issued on May 19, 2016. The company shares have rallied 47.61% from its 1 Year high price. On Jul 1, 2016, the shares registered one year high at $14.45 and the one year low was seen on Jan 13, 2016. The 50-Day Moving Average price is $11.22 and the 200 Day Moving Average price is recorded at $7.77.

Teck Resources Ltd. is engaged in the business of exploring, acquiring, developing and producing natural resources. The Company is focused on steelmaking coal, copper, zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead, molybdenum, silver, and various specialty and other metals, chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru, Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc, primarily from its Red Dog mine in Alaska, the Antamina mine in northern Peru, and its Pend Oreille mine in Washington State. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project, Frontier oil sands project in various other oil sands leases in the exploration phase, including the Lease 421 Area.

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