National Bankshares Increases Teck Resources (TSE:TECK.B) Price Target to C$80.00

Teck Resources (TSE:TECK.B) had its price objective lifted by equities researchers at National Bankshares from C$70.00 to C$80.00 in a note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ target price suggests a potential upside of 2.17% from the company’s current price.

Several other research firms have also commented on TECK.B. Jefferies Financial Group upped their target price on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. TD Securities downgraded 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 note on Thursday, January 22nd. Desjardins increased their target price on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday. Stifel Nicolaus boosted their price target on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Finally, CIBC increased their price objective on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a report on Thursday, November 27th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$67.85.

Teck Resources Stock Performance

Shares of TSE TECK.B traded up C$1.19 during midday trading on Thursday, hitting C$78.30. The company’s stock had a trading volume of 1,346,445 shares, compared to its average volume of 1,102,922. 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$40.23 and a 1-year high of C$82.00. The firm’s fifty day moving average price is C$65.11 and its 200-day moving average price is C$57.44. The firm has a market cap of C$38.23 billion, a P/E ratio of 31.45, a P/E/G ratio of -0.38 and a beta of 2.03.

Teck Resources Company Profile

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%.