Teck Resources Ltd (TECK) closed the most recent trading day at $44.83, moving -1.99% from the previous trading session. This change lagged the S&P 500’s daily loss of 1.08%. Elsewhere, the Dow lost 0.81%, while the tech-heavy Nasdaq added 0.22%.
Prior to today’s trading, shares of the company had gained 25.76% over the past month. This has outpaced the Basic Materials sector’s gain of 4.64% and the S&P 500’s gain of 1.03% in that time.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. In that report, analysts expect Teck Resources Ltd to post earnings of $2.28 per share. This would mark year-over-year growth of 347.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.92 billion, up 88.08% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.17 per share and revenue of $15.19 billion. These totals would mark changes of +80.75% and +41.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.7% lower within the past month. Teck Resources Ltd is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 5.6. This valuation marks a discount compared to its industry’s average Forward P/E of 9.03.
Investors should also note that TECK has a PEG ratio of 0.14 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. Mining – Miscellaneous stocks are, on average, holding a PEG ratio of 1.93 based on yesterday’s closing prices.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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