Bull of the Day: Teck Resources (TECK)
Inflation means big money for mining stocks as the dollar weakens.
The market is roaring off the recent lows. Tech is leading the way for sure, but there are other aspects of the market that could be the next big thing. One way to find these leaders of tomorrow is by leaning on the power of the Zacks Rank. Stocks which are in the good graces of our Zacks Rank have the strongest earnings trends. These strong trends provide the best chance of success in the future. It’s analysts all over Wall Street which impact our Zacks Rank. That way, we are gaining access to a breadth of knowledge, not just a singular analyst’s opinion.
One stock in the good graces of the rank is today’s Bull of the Day, Teck Resources TECK. Teck is a Zacks Rank #1 (Strong Buy) in the Mining – Miscellaneous industry. Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates. It also produces gold, silver, germanium, indium, and cadmium, as well as chemicals, industrial products, and fertilizers.
Teck Resources Ltd Price and Consensus
The reason for the favorable rank is the litany of positive earnings estimate revisions coming from analysts. Over the last sixty days, twelve analysts have increased their estimates for next year while ten have increased their numbers for the current year. The bullish move has pushed up our Zacks Consensus Estimates for the current year from $2.35 to $3.22 while next year’s numbers are up from $2.43 to $3.37. That means current year earnings growth is slated to come in at 312% while next year growth cools to 4.72%.
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Teck Resources Ltd (TECK): Free Stock Analysis Report
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