Teck Resources (TSE:TECK.B) Upgraded at Citigroup

Citigroup upgraded shares of Teck Resources (TSE:TECK.B) from a neutral rating to a buy rating in a report issued on Monday morning,BayStreet.CA reports. The brokerage currently has C$104.00 target price on the stock, up from their prior target price of C$76.00.

Other research analysts have also recently issued reports about the stock. Raymond James Financial decreased their price objective on shares of Teck Resources from C$64.00 to C$63.00 in a report on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. CIBC boosted their target price on shares of Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a research note on Thursday, November 27th. Jefferies Financial Group increased their price target on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Finally, 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 report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$72.58.

Teck Resources Price Performance

TSE TECK.B opened at C$76.29 on Monday. Teck Resources has a one year low of C$40.23 and a one year high of C$82.18. The stock has a 50-day moving average of C$67.03 and a 200 day moving average of C$58.32. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The company has a market capitalization of C$37.24 billion, a price-to-earnings ratio of 30.64, a PEG ratio of -0.38 and a beta of 2.06.

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%.