Teck Resources (TSE:TECK.B) Price Target Raised to C$105.00

Teck Resources (TSE:TECK.B) had its price objective upped by National Bank Financial from C$100.00 to C$105.00 in a research report report published on Friday morning,BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

A number of other research analysts have also recently commented on TECK.B. Canadian Imperial Bank of Commerce upped their price target on Teck Resources from C$79.00 to C$83.00 and gave the stock a “tender” rating in a research note on Friday, April 24th. Scotiabank lifted their price objective on Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a report on Monday, June 15th. Canaccord Genuity Group dropped their target price on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$90.00 to C$93.00 in a report on Friday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$84.27.

Teck Resources Price Performance

TSE:TECK.B opened at C$85.01 on Friday. Teck Resources has a one year low of C$42.95 and a one year high of C$98.58. The stock has a market cap of C$41.71 billion, a PE ratio of 22.55, a P/E/G ratio of -0.38 and a beta of 1.81. 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 stock has a 50 day moving average price of C$86.24 and a 200 day moving average price of C$79.63.

Teck Resources News Summary

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Raymond James upgraded Teck Resources to outperform from market perform and raised its price target to C$93, implying additional upside for the stock. Teck Resources upgraded by Raymond James
• Positive Sentiment: National Bank Financial raised its price target on Teck Resources to C$105 from C$100, signaling continued confidence even while keeping a sector perform rating. National Bank Financial raises Teck target
• Positive Sentiment: Coverage highlighting Teck’s Q2 earnings beat and record copper-driven results is supporting the stock, as higher copper output and prices boosted profit. Teck Resources up after earnings beat
• Positive Sentiment: Another report said Teck topped profit estimates on stronger copper production and prices, reinforcing the positive sentiment around the stock. Teck tops profit estimates
• Neutral Sentiment: Canaccord Genuity cut its price target to C$81 from C$84 and maintained a hold rating, which tempers some of the optimism despite the stronger operating results. Canaccord lowers Teck target

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%.