Teck Resources (TECK) Gets a Hold Rating from Barclays

Barclays analyst Matt Murphy maintained a Hold rating on Teck Resources (TECKResearch Report) on February 24 and set a price target of C$40.00. The company’s shares closed last Friday at $36.84, close to its 52-week high of $37.23.

According to, Murphy is a 4-star analyst with an average return of 13.2% and a 67.5% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Southern Copper.

Teck Resources has an analyst consensus of Strong Buy, with a price target consensus of $38.63.

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Based on Teck Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.97 billion and net profit of $816 million. In comparison, last year the company earned revenue of $2.29 billion and had a net profit of $61 million.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TECK in relation to earlier this year.

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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.

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