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Teck Resources Ltd (TECK) Dips More Than Broader Markets: What You Should Know

·3 min read

Teck Resources Ltd (TECK) closed at $32.08 in the latest trading session, marking a -0.83% move from the prior day. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.

Coming into today, shares of the company had lost 6.53% in the past month. In that same time, the Basic Materials sector lost 6.49%, while the S&P 500 lost 9.06%.

Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release, which is expected to be October 26, 2022. On that day, Teck Resources Ltd is projected to report earnings of $1.39 per share, which would represent a year-over-year decline of 6.71%. Meanwhile, our latest consensus estimate is calling for revenue of $3.41 billion, up 8.15% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $14.89 billion. These totals would mark changes of +51.11% and +38.62%, respectively, from last year.

Any recent changes to analyst estimates for Teck Resources Ltd should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection has moved 2.32% higher. Teck Resources Ltd is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Teck Resources Ltd currently has a Forward P/E ratio of 4.74. Its industry sports an average Forward P/E of 8.13, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.

Investors should also note that TECK has a PEG ratio of 1.08 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. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.36 as of yesterday's close.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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