Stifel Nicolaus Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price objective upped by analysts at Stifel Nicolaus from C$65.00 to C$80.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 2.70% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. TD Securities cut shares of Teck Resources from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Desjardins increased their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Scotiabank raised their price objective on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. Canadian Imperial Bank of Commerce upped their target price on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group increased their target price on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$75.00.

Teck Resources Price Performance

Shares of Teck Resources stock traded up C$3.07 during trading on Wednesday, hitting C$82.22. The stock had a trading volume of 850,643 shares, compared to its average volume of 1,184,030. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$82.22. The business’s 50-day moving average is C$68.33 and its 200 day moving average is C$59.12. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The firm has a market cap of C$40.14 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of -0.38 and a beta of 2.06.

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%.