Teck Resources Ltd (TSE:TECK.B) Receives Average Recommendation of “Hold” from Brokerages

Teck Resources Ltd (TSE:TECK.B) has received a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$80.25.

A number of analysts have recently commented on the company. TD Securities lifted their price target on Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce lifted their price target on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research note on Friday, April 24th. Scotiabank lifted their price target on Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. Raymond James Financial lifted their price target on Teck Resources from C$78.00 to C$80.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group lifted their price target on Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a research note on Friday, April 24th.

Teck Resources Stock Performance

Shares of TECK.B stock opened at C$90.61 on Wednesday. The business’s 50-day moving average price is C$84.11 and its 200-day moving average price is C$74.95. Teck Resources has a 12 month low of C$42.95 and a 12 month high of C$98.58. The firm has a market capitalization of C$44.36 billion, a price-to-earnings ratio of 24.03, a PEG ratio of -0.38 and a beta of 1.76. 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 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%.