BMO Capital Markets has resumed its coverage of Teck Resources (TECK, Financial), assigning the stock an Outperform rating and a price target of C$56. Analyst Matthew Murphy anticipates that the company's first-quarter production will be below expectations; however, he foresees improvement starting in the second quarter as the firm progresses in ramping up its operations.
Teck Resources, which has seen its share value decline by 40% from its peak over the past year due to economic concerns, is predicted to gain support from its ongoing stock buybacks and a strategic growth plan. This plan includes several projects expected to begin later in the year, which could bolster the company’s financial performance moving forward.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for Teck Resources Ltd (TECK, Financial) is $51.86 with a high estimate of $63.99 and a low estimate of $41.83. The average target implies an upside of 53.34% from the current price of $33.82. More detailed estimate data can be found on the Teck Resources Ltd (TECK) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Teck Resources Ltd's (TECK, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Teck Resources Ltd (TECK, Financial) in one year is $29.54, suggesting a downside of 12.66% from the current price of $33.82. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Teck Resources Ltd (TECK) Summary page.
