BUZZ-Teck Resources ltd: Stock surges on Q4 profit, broader market rally

Fri Feb 12, 2016 12:16pm EST
 
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** Canadian miner's shares up 18.8 pct at C$6.11, top gainer on the Canada's main stock index

** Stock's rally, in tandem with broader market, sets it on course for their best one-day percentage gain since August

** Stock had closed down about 5 pct on Thursday (vs. a 0.8 pct drop in main index) despite posting a surprise Q4 adjusted profit, helped by cost cuts

** At least three analysts raised PT on stock on Friday

** "We believe that Teck remains well-funded to meet its commitments over the next several years," TD Securities says, raising PT to C$5.50 from C$5

** Paradigm Capital says: "When commodity markets improve, especially coal, Teck is certainly positioned for success"

** Paradigm upgrades stock to "buy" from "hold", hikes PT to C$7.75 from C$6.10; Dundee Capital raises PT to C$6 from C$5

** 5 of 24 brokerages covering the stock rate it "buy" or higher, 14 "hold" and 5 "sell" or lower; Median PT is C$6.25