J.P. Morgan Reaffirms Their Hold Rating on Teck Resources (TECK)

J.P. Morgan analyst Bill Peterson maintained a Hold rating on Teck Resources on January 18 and set a price target of C$72.00.

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According to TipRanks, Peterson is a 4-star analyst with an average return of 4.1% and a 51.56% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Alcoa, Steel Dynamics, and Nucor.

In addition to J.P. Morgan, Teck Resources also received a Hold from TipRanks – OpenAI’s OpenAI Industrial Materials in a report issued yesterday. However, on the same day, TipRanks – PerPlexity upgraded Teck Resources (NYSE: TECK) to a Buy.

Based on Teck Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$3.39 billion and a net profit of C$281 million. In comparison, last year the company earned a revenue of C$2.86 billion and had a GAAP net loss of C$699 million

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TECK in relation to earlier this year.