Teck Resources (TSE:TECK.B) Price Target Raised to C$75.00
by Doug Wharley · The Cerbat GemTeck Resources (TSE:TECK.B – Free Report) had its target price lifted by Scotiabank from C$70.00 to C$75.00 in a report issued on Tuesday morning,BayStreet.CA reports.
Other equities research analysts have also recently issued research reports about the company. National Bank Financial upped their price objective on Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Jefferies Financial Group upped their price objective on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Desjardins upped their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce upped their price target on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Finally, Raymond James Financial upped their price target on shares of Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$76.75.
Read Our Latest Report on Teck Resources
Teck Resources Stock Performance
TECK.B opened at C$79.31 on Tuesday. Teck Resources has a 52-week low of C$42.95 and a 52-week high of C$85.42. The firm has a market capitalization of C$38.83 billion, a PE ratio of 28.02, a PEG ratio of -0.38 and a beta of 1.82. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The business’s 50-day simple moving average is C$74.75 and its 200 day simple moving average is C$67.47.
Teck Resources Company Profile
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%.