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

Shares of Teck Resources Ltd (TSE:TECK.B) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$84.27.

Several brokerages have commented on TECK.B. Canadian Imperial Bank of Commerce boosted their price target 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. Canaccord Genuity Group cut 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. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$90.00 to C$93.00 in a report on Friday, July 24th. Scotiabank boosted their target price on Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Finally, National Bank Financial increased their price target on Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th.

Teck Resources Price Performance

Shares of TSE:TECK.B opened at C$84.36 on Thursday. 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 firm has a fifty day moving average price of C$86.17 and a 200 day moving average price of C$80.07. Teck Resources has a fifty-two week low of C$42.95 and a fifty-two week high of C$98.58. The firm has a market cap of C$41.39 billion, a price-to-earnings ratio of 16.57, 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%.