Here’s Why Teck Resources Ltd (TECK) is a Strong Momentum Stock

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Teck Resources Ltd (TECK)

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.

TECK sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 6.9% and up 13.2% over the past one-week and four-week period, respectively, and Teck Resources Ltd has gained 117.2% in the last one-year period as well. Additionally, an average of 7,481,366.50 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2022, 16 analysts revised their earnings estimate higher in the last 60 days for TECK, while the Zacks Consensus Estimate has increased $2.09 to $6.62 per share. TECK also boasts an average earnings surprise of 13%.

Investors should take the time to consider TECK for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Teck Resources Ltd (TECK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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