Raymond James Financial Raises Teck Resources (TSE:TECK.B) Price Target to C$77.00

Teck Resources (TSE:TECK.B) had its price target lifted by investment analysts at Raymond James Financial from C$70.00 to C$77.00 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial’s target price would indicate a potential downside of 1.86% from the stock’s current price.

Other analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce boosted their target price on Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Jefferies Financial Group lifted their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Scotiabank boosted their price objective on shares of Teck Resources from C$60.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 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. Finally, TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating and increased their price target for the company from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus target price of C$73.75.

Teck Resources Price Performance

Shares of TSE:TECK.B traded up C$3.31 on Monday, reaching C$78.46. 592,088 shares of the company were exchanged, compared to its average volume of 1,182,344. The company has a 50-day moving average of C$67.60 and a 200-day moving average of C$58.66. The firm has a market cap of C$38.31 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$82.18.

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%.