Brokerages Set Teck Resources Ltd (TSE:TECK.B) Target Price at C$80.25

Shares of Teck Resources Ltd (TSE:TECK.B) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$80.25.

Several equities research analysts have recently issued reports on TECK.B shares. Raymond James Financial raised their price objective on Teck Resources from C$78.00 to C$80.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Stifel Nicolaus increased their target price on 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. Canadian Imperial Bank of Commerce raised 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. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$76.00 to C$104.00 in a report on Monday, February 2nd. 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 report on Monday, January 26th.

Teck Resources Stock Down 0.2%

Shares of TSE TECK.B opened at C$86.58 on Friday. The firm has a market cap of C$42.39 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of -0.38 and a beta of 1.83. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 1 year low of C$42.95 and a 1 year high of C$92.67. The firm’s 50 day moving average price is C$77.46 and its 200 day moving average price is C$71.43.

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%.