New Buy Rating for Teck Resources (TECK), the Basic Materials Giant
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According to TipRanks, MacArthur is a 5-star analyst with an average return of 14.5% and a 61.90% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Sandstorm Gold, Barrick Mining, and Franco-Nevada.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Teck Resources with a $46.63 average price target, implying a 15.05% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $42.00 price target.
Based on Teck Resources' latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.29 billion and a net profit of $370 million. In comparison, last year the company earned a revenue of $3.99 billion and had a net profit of $343 million
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