Teck Resources (TSE:TECK.B) Price Target Raised to C$80.00

by · The Cerbat Gem

Teck Resources (TSE:TECK.B – Free Report) had its price target boosted by Jefferies Financial Group from C$71.00 to C$80.00 in a report issued on Monday morning,BayStreet.CA reports.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$62.50 to C$65.00 in a research note on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. TD Securities upped their price target on shares of Teck Resources from C$63.00 to C$70.00 in a report on Tuesday, October 21st. Finally, Scotiabank increased their price target on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average target price of C$65.00.

Read Our Latest Analysis on Teck Resources

Teck Resources Stock Performance

TECK.B opened at C$72.44 on Monday. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$72.63. The stock has a market cap of C$35.37 billion, a P/E ratio of 29.09, a P/E/G ratio of -0.38 and a beta of 2.03. The stock’s 50 day simple moving average is C$62.16 and its 200 day simple moving average is C$56.17. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

About Teck Resources

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Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.

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