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

Shares of Teck Resources Ltd (TSE:TECK.B) have received an average recommendation of “Hold” from the ten brokerages that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$81.08.

Several research firms have commented on TECK.B. National Bank Financial lifted their price target on Teck Resources from C$90.00 to C$92.50 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their target price on shares of Teck Resources from C$79.00 to C$83.00 and gave the stock a “tender” rating in a research report on Friday, April 24th. Canaccord Genuity Group upped their price target on shares of Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a research report on Friday, April 24th. Raymond James Financial increased their price target on shares of Teck Resources from C$78.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Scotiabank raised their price objective on shares of 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.

Teck Resources Stock Up 0.9%

Shares of TSE TECK.B traded up C$0.73 during midday trading on Friday, hitting C$84.73. 1,250,493 shares of the company’s stock were exchanged, compared to its average volume of 1,144,783. The firm’s fifty day simple moving average is C$87.22 and its 200-day simple moving average is C$78.40. The company has a market cap of C$41.48 billion, a PE ratio of 22.47, a P/E/G ratio of -0.38 and a beta of 1.81. Teck Resources has a twelve month low of C$42.95 and a twelve month high of C$98.58. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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%.