Teck Resources Ltd (TSE:TECK.B) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Teck Resources Ltd (TSE:TECK.B) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$80.25.

Several analysts have issued reports on the stock. Raymond James Financial upped their price target on shares of Teck Resources from C$78.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Stifel Nicolaus raised their price target on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. TD Securities raised their price target on shares of Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Scotiabank increased their price objective on shares of Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. Finally, Desjardins increased their price objective on shares of 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.

Teck Resources Stock Performance

Shares of TECK.B opened at C$84.34 on Friday. Teck Resources has a 12 month low of C$42.95 and a 12 month high of C$92.67. The firm has a fifty day simple moving average of C$76.08 and a 200 day simple moving average of C$70.57. The stock has a market capitalization of C$41.29 billion, a price-to-earnings ratio of 22.37, a PEG ratio of -0.38 and a beta of 1.83. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

About Teck Resources

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%.