Teck Resources (TSE:TECK.B) Raised to Outperform at Raymond James Financial

Teck Resources (TSE:TECK.B) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a report released on Friday,BayStreet.CA reports. The firm currently has a C$93.00 price target on the stock, up from their prior price target of C$90.00. Raymond James Financial’s price objective would suggest a potential upside of 8.87% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group decreased their price target on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a report on Friday. 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 report on Friday, April 24th. National Bank Financial upped their target price on shares of Teck Resources from C$92.50 to C$100.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 14th. Finally, Scotiabank increased their target price on shares of 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. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$82.83.

Teck Resources Stock Up 1.5%

Shares of Teck Resources stock traded up C$1.24 on Friday, hitting C$85.42. The company had a trading volume of 584,113 shares, compared to its average volume of 1,133,529. Teck Resources has a 1 year low of C$42.95 and a 1 year high of C$98.58. 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 of C$86.23 and a 200-day moving average of C$79.52. The stock has a market capitalization of C$41.82 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of -0.38 and a beta of 1.81.

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%.