Canadian diversified mining company Teck Resources has business units focused on copper, steelmaking coal, zinc and energy; and, Teck is also a significant producer of specialty metals such as germanium and indium. The company is the second largest seaborne exporter of steelmaking coal. Coal accounts for just under half of the revenue and just over half of the profits.

Teck Resources, as we know it today, was formed when Teck acquired 100% of Cominco in July, 2001. Originally founded in 1906 as The Consolidated Mining and Smelting Company of Canada (Cominco) and in 1913 as Teck-Hughes Gold Mines Limited, the company is one of Canada’s premier mining organizations.

A number of analysts in Canada have recently been weighing in on Teck Resources (Stock Profile – TSX:TCK.B & NYSE:TCK). Yesterday, Raymond James mining analyst Alex Terentiew initiated coverage of Teck with an Outperform Rating and an initial $40.00 price target.

Terentiew writes, “We recommend buying the stock on our view of a strong coal division with a robust cost structure that should benefit from a recovery in coal prices from current low levels; imbedded optionality on long-term copper and oil prices given the nominal value attributed to oil sands projects and three copper projects that could more than double Teck’s copper output by 2022; a relatively low-risk NAV, given that most of it is attributed to producing projects in safe jurisdictions; and an attractive valuation for what is one of the most liquid names in the Canadian mining space.”

The Raymond James analyst also notes, “Recent coal price weakness, including a low benchmark price of $170 per tonne for Q4-2012 has created an attractive entry point for the stock.”

On the flip-side, analysts at Scotia Capital cut their price target on shares of Teck Resources from $51.00 to $46.00 in a research note to investors on Thursday, October 25th. They now have an Outperform Rating on the stock. On the same day, analysts at BMO Capital Markets reiterated a Market Perform rating on shares of Teck in a research note to investors.

Shares of Teck Resources are currently trading on the TSX at $31.26 up $0.48 on the day. The NYSE is closed today due to Halloween monster storm Sandy.