Teck Resources Ltd (TECK.B) Receives Consensus Rating of “Buy” from Analysts
Shares of Teck Resources Ltd (TSE:TECK.B) have been assigned an average rating of “Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$44.63.
Several analysts have weighed in on TECK.B shares. Raymond James reaffirmed an “outperform” rating and set a C$46.00 target price on shares of Teck Resources in a research note on Monday, February 4th. Barclays lifted their target price on Teck Resources from C$38.00 to C$42.00 in a research note on Monday, January 21st. Goldman Sachs Group raised Teck Resources from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$38.00 to C$39.00 in a research note on Monday, January 14th. National Bank Financial cut their target price on Teck Resources from C$40.00 to C$38.50 in a research note on Monday, January 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$48.00 target price on shares of Teck Resources in a research note on Wednesday, January 9th.
TSE:TECK.B traded up C$0.01 during midday trading on Tuesday, reaching C$29.94. 421,238 shares of the company traded hands, compared to its average volume of 1,990,000. Teck Resources has a twelve month low of C$19.27 and a twelve month high of C$38.66. The firm has a market capitalization of $16.97 billion and a P/E ratio of 5.04. The company has a debt-to-equity ratio of 23.30, a current ratio of 2.30 and a quick ratio of 1.28.
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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