Teck Resources Ltd (TSE:TECK.B) Receives C$72.58 Average Target Price from Analysts

Teck Resources Ltd (TSE:TECK.B) has been assigned an average rating of “Hold” from the nine research firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$72.58.

Several equities analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Teck Resources from C$61.00 to C$77.00 in a report on Wednesday. Jefferies Financial Group upped their target price on shares of Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and raised their price target for the stock from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Desjardins lifted their price objective on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Finally, Scotiabank increased their target price on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th.

Teck Resources Stock Performance

Teck Resources stock opened at C$75.15 on Thursday. The company has a market cap of C$36.69 billion, a PE ratio of 30.18, a PEG ratio of -0.38 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 1 year low of C$40.23 and a 1 year high of C$82.18. The company’s 50-day moving average is C$67.60 and its two-hundred day moving average is C$58.62.

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%.