Teck Resources (TECK) Upgraded to Overweight with Price Target of $51.21
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: Yahoo Finance
- Rating Upgrade: Teck Resources has received an upgrade to an overweight rating, reflecting analysts' optimistic expectations for its future performance, which may attract more investor interest.
- Price Target Set: The analysts have set a price target of $51.21, indicating a positive outlook on the company's future stock price, which could yield significant returns for existing shareholders if achieved.
- Market Reaction: This rating upgrade is likely to boost market confidence in Teck, potentially driving its stock price higher and enhancing the company's competitiveness in the resource sector.
- Investment Appeal: With the rating increase, Teck Resources may attract more institutional investors, further enhancing its market liquidity and investment appeal.
Analyst Views on TECK
Wall Street analysts forecast TECK stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TECK is 45.92 USD with a low forecast of 39.62 USD and a high forecast of 51.87 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 54.750
Low
39.62
Averages
45.92
High
51.87
Current: 54.750
Low
39.62
Averages
45.92
High
51.87
About TECK
Teck Resources Limited is a resource company that operates a portfolio of copper and zinc operations across North and South America. The Company’s projects include the Highland Valley Copper (HVC) Mine Life Extension Project, Galore Creek Project, Zafranal Project, and NuevaUnion. The HVC Mine Life Extension is located at the HVC site, approximately 17 kilometers (km) west of Logan Lake and 75 kilometers southwest of Kamloops. The Galore Creek Project is situated in Tahltan Territory in northwestern British Columbia, around 370 km northwest of Smithers. The Zafranal Copper Project lies in the Arequipa Region of southern Peru, within the prolific porphyry copper belt. The NuevaUnion Project is a undeveloped copper-gold-molybdenum mining venture in the Americas, located in Chile’s Atacama Region; its two deposits are about 40 km apart. Its Red Dog Operations is a zinc mine located approximately 170 km (105 miles) north of the Arctic Circle in northwest Alaska, near Kotzebue.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
