Teck Resources Ltd (TSE:TECK.B) Receives C$84.27 Average PT from Brokerages

Shares of Teck Resources Ltd (TSE:TECK.B) have been given a consensus recommendation of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$84.27.

TECK.B has been the subject of several research analyst reports. National Bank Financial upped their price objective on Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Canadian Imperial Bank of Commerce lifted their price objective on shares of 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 raised their target price on shares of Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a report on Monday, June 15th. Canaccord Genuity Group decreased their price target on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Finally, Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$90.00 to C$93.00 in a research report on Friday, July 24th.

Teck Resources Price Performance

Shares of TSE:TECK.B opened at C$92.56 on Thursday. The stock’s 50 day moving average price is C$86.12 and its 200 day moving average price is C$80.52. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a market cap of C$45.41 billion, a price-to-earnings ratio of 18.18, a PEG ratio of -0.38 and a beta of 1.80. Teck Resources has a 12 month low of C$42.95 and a 12 month high of C$98.58.

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%.