Brokerages Set Teck Resources Ltd (TSE:TECK.B) PT at C$84.27

Teck Resources Ltd (TSE:TECK.B) has earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$85.36.

A number of brokerages have recently commented on TECK.B. Canaccord Genuity Group lowered their price objective on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th. National Bank Financial raised their target price on shares of 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. Raymond James Financial lifted their price target on shares of Teck Resources from C$93.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Scotiabank boosted their price target 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.

Teck Resources Price Performance

Shares of TSE TECK.B opened at C$98.76 on Monday. The stock’s 50-day moving average is C$86.70 and its two-hundred day moving average is C$82.49. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a 1-year low of C$43.85 and a 1-year high of C$99.81. The company has a market cap of C$48.45 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of -0.38 and a beta of 1.80.

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%.