This #1 (Strong Buy) Basic Materials Stock is a Smart Buy Right Now
Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Teck Resources Ltd (TECK) for Your Portfolio?
Teck Resources Ltd was upgraded to the Zacks Rank #1 list on February 9, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Vancouver, Canada-based Teck Resources Limited is a diversified resource company committed to mining and mineral development with business units focused on steelmaking coal, copper, zinc and energy.
For fiscal 2022, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.34 to $5.62 per share. TECK boasts an average earnings surprise of 13%.
Earnings are forecasted to see growth of 24.3% for the current fiscal year, and sales are expected to increase 12.5%.
Additionally, TECK has climbed higher over the past four weeks, gaining 11%. The S&P 500 is down 7.7% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Teck Resources Ltd could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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Teck Resources Ltd (TECK) : Free Stock Analysis Report
