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

Teck Resources (TSE:TECK.B) had its price objective increased by analysts at Scotiabank from C$75.00 to C$80.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential downside of 2.77% from the company’s current price.

Several other research analysts have also recently weighed in on TECK.B. Stifel Nicolaus upped their price objective on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. TD Securities boosted their price target on shares of Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research note on Monday. Jefferies Financial Group increased their price target on shares of Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Canadian Imperial Bank of Commerce raised their price objective on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Finally, Desjardins upped their target price on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Teck Resources currently has an average rating of “Hold” and an average target price of C$76.33.

Teck Resources Price Performance

TSE TECK.B traded up C$1.26 during trading on Tuesday, reaching C$82.28. The company’s stock had a trading volume of 528,521 shares, compared to its average volume of 1,204,894. The firm has a fifty day moving average of C$71.83 and a 200 day moving average of C$61.39. Teck Resources has a one year low of C$40.23 and a one year high of C$82.99. The stock has a market capitalization of C$40.17 billion, a PE ratio of 33.04, a P/E/G ratio of -0.38 and a beta of 2.06. 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 Company Profile

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%.