Teck Resources Ltd (TSE:TECK.B) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Teck Resources Ltd (TSE:TECK.B) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$75.50.

Several research analysts have commented on the company. Jefferies Financial Group raised their price objective on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Canadian Imperial Bank of Commerce raised their target price on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. National Bank Financial upped their price target on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Desjardins lifted their price objective on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, TD Securities upped their target price on shares of Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, February 23rd.

Teck Resources Stock Performance

Shares of TSE:TECK.B opened at C$72.10 on Friday. The business has a 50-day moving average of C$74.44 and a two-hundred day moving average of C$65.85. The firm has a market capitalization of C$35.30 billion, a PE ratio of 25.48, a P/E/G ratio of -0.38 and a beta of 1.92. 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 12 month low of C$40.23 and a 12 month high of C$85.42.

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%.