TD Securities Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

by · The Markets Daily

Teck Resources (TSE:TECK.B – Get Free Report) had its target price increased by investment analysts at TD Securities from C$76.00 to C$82.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ target price suggests a potential upside of 1.90% from the company’s previous close.

TECK.B has been the subject of several other reports. Raymond James Financial lifted their price objective on Teck Resources from C$70.00 to C$77.00 in a report on Monday, February 9th. Stifel Nicolaus boosted their price objective on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Desjardins upped their price objective on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. National Bank Financial lifted their target price on Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Finally, Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$76.00 to C$104.00 in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Teck Resources has a consensus rating of “Hold” and a consensus target price of C$75.50.

View Our Latest Analysis on TECK.B

Teck Resources Trading Down 1.0%

Teck Resources stock traded down C$0.85 during trading hours on Monday, hitting C$80.47. The company had a trading volume of 645,461 shares, compared to its average volume of 1,214,927. 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 firm has a market cap of C$39.29 billion, a P/E ratio of 32.32, a P/E/G ratio of -0.38 and a beta of 2.06. The company has a 50-day moving average price of C$71.39 and a two-hundred day moving average price of C$61.14. Teck Resources has a 1 year low of C$40.23 and a 1 year high of C$82.95.

About Teck Resources

(Get Free Report)

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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