In the latest trading session, Teck Resources Ltd (TECK) closed at $40.24, marking a +1.87% move from the previous day. The stock outpaced the S&P 500’s daily gain of 1.46%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the company had lost 1.64% in the past month. In that same time, the Basic Materials sector lost 3.64%, while the S&P 500 lost 6.94%.
Teck Resources Ltd will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. The company is expected to report EPS of $2.30, up 350.98% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.93 billion, up 88.7% from the year-ago period.
TECK’s full-year Zacks Consensus Estimates are calling for earnings of $7.87 per share and revenue of $15.22 billion. These results would represent year-over-year changes of +74.12% and +41.64%, respectively.
Investors should also note any recent changes to analyst estimates for Teck Resources Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.63% lower. Teck Resources Ltd currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Teck Resources Ltd is currently trading at a Forward P/E ratio of 5.02. For comparison, its industry has an average Forward P/E of 7.75, which means Teck Resources Ltd is trading at a discount to the group.
Meanwhile, TECK’s PEG ratio is currently 0.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. TECK’s industry had an average PEG ratio of 1.6 as of yesterday’s close.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks’ Top Picks to Cash in on Electric Vehicles
Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investors
See 5 EV Stocks With Extreme Upside Potential >>
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