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Why Teck Resources (TECK) Could Be Positioned for a Surge


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%.

Teck Resources Ltd Price and Consensus

Teck Resources Ltd Price and Consensus | Teck Resources Ltd Quote

Bottom Line

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.

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