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Teck Resources (TECK) Soars 15.0%: Is Further Upside Left in the Stock?
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Teck Resources Ltd (TECK - Free Report) shares ended the last trading session 15% higher at $33.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.6% loss over the past four weeks.
TECK shares gained as copper futures for May delivery rose 6.3% to $4.40 per pound yesterday after U.S. President Trump paused his reciprocal tariff package for 90 days. Prices of the metal had tumbled when Trump had announced a slew of tariffs.
This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -55.4%. Revenues are expected to be $1.6 billion, down 45.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Teck Resources, the consensus EPS estimate for the quarter has been revised 1.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TECK going forward to see if this recent jump can turn into more strength down the road.
Teck Resources is part of the Zacks Mining - Miscellaneous industry. Piedmont Lithium Inc. (PLL - Free Report) , another stock in the same industry, closed the last trading session 10.7% higher at $5.91. PLL has returned -28.1% in the past month.
Piedmont Lithium's consensus EPS estimate for the upcoming report has changed +50% over the past month to -$0.46. Compared to the company's year-ago EPS, this represents a change of +24.6%. Piedmont Lithium currently boasts a Zacks Rank of #3 (Hold).
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Teck Resources (TECK) Soars 15.0%: Is Further Upside Left in the Stock?
Teck Resources Ltd (TECK - Free Report) shares ended the last trading session 15% higher at $33.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.6% loss over the past four weeks.
TECK shares gained as copper futures for May delivery rose 6.3% to $4.40 per pound yesterday after U.S. President Trump paused his reciprocal tariff package for 90 days. Prices of the metal had tumbled when Trump had announced a slew of tariffs.
This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -55.4%. Revenues are expected to be $1.6 billion, down 45.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Teck Resources, the consensus EPS estimate for the quarter has been revised 1.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TECK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Teck Resources is part of the Zacks Mining - Miscellaneous industry. Piedmont Lithium Inc. (PLL - Free Report) , another stock in the same industry, closed the last trading session 10.7% higher at $5.91. PLL has returned -28.1% in the past month.
Piedmont Lithium's consensus EPS estimate for the upcoming report has changed +50% over the past month to -$0.46. Compared to the company's year-ago EPS, this represents a change of +24.6%. Piedmont Lithium currently boasts a Zacks Rank of #3 (Hold).