Teck Resources Limited TECK, a Canadian metals and mining company, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TECK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Teck Resources could be a solid choice for investors.
Current Quarter Estimates for TECK
In the past 30 days, 2 estimates have gone higher for Teck Resources while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.08 a share 30 days ago, to $1.38 today, a move of 27.8%.
Current Year Estimates for TECK
Meanwhile, Teck Resources’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.12 per share 30 days ago to $1.58 per share today, an increase of 41.1%.
The stock has also started to move higher lately, adding 9.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.