Teck Resources (TSE:TECK.B) Price Target Raised to C$80.00

Teck Resources (TSE:TECK.B) had its target price lifted by National Bankshares from C$70.00 to C$80.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other brokerages also recently commented on TECK.B. Jefferies Financial Group lifted their target price on shares of Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Scotiabank raised their price target on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. CIBC boosted their price objective on Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a research report on Thursday, November 27th. Stifel Nicolaus increased their target price on Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. Finally, TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and raised their target price for the company from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Teck Resources has a consensus rating of “Hold” and a consensus price target of C$67.58.

Teck Resources Trading Down 7.1%

TSE:TECK.B opened at C$73.08 on Thursday. The company’s 50 day moving average is C$65.94 and its 200-day moving average is C$57.78. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$82.00. The firm has a market cap of C$35.68 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of -0.38 and a beta of 2.03.

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%.