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Earnings Estimates Moving Higher for Teck Resources (TCK): Time to Buy?

Teck Resources Limited TCK is a diversified resource company that 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 TCK’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 TCK

In the past 30 days, 5 estimates have gone higher for Teck Resources while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 8 cents a share 30 days ago, to a loss of 1 cent today, a move of 87.5%.  

Current Year Estimates for TCK

Meanwhile, Teck Resource’s current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared with no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 1 cent per share 30 days ago to 25 cents per share today, a significant increase.

Bottom Line

The stock has also started to move higher lately, adding 51.2% 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 #2 (Buy) stock to profit in the near future.

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TECK RESOURCES (TCK): Free Stock Analysis Report
 
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