Canaccord Genuity Group Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective upped by Canaccord Genuity Group from C$78.00 to C$85.50 in a report released on Friday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$76.00 to C$104.00 in a research note on Monday, February 2nd. TD Securities boosted their price target on Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Scotiabank increased their price target on Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. Finally, Jefferies Financial Group raised their price objective on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$80.25.

Teck Resources Price Performance

TSE:TECK.B opened at C$82.23 on Friday. Teck Resources has a 12-month low of C$42.95 and a 12-month high of C$86.48. The firm has a market cap of C$40.26 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of -0.38 and a beta of 1.82. The company’s 50-day moving average is C$74.98 and its two-hundred day moving average is C$68.31. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

Key Stories Impacting Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: National Bank Financial raised its price target to C$92.50 and kept a “sector perform” rating, implying roughly 12.7% upside vs. the current price — a meaningful upward revision that can lend support to the share price. Article Title
• Positive Sentiment: Canaccord Genuity raised its target to C$85.50 and maintained a “hold” rating, representing ~4.1% upside — another incremental boost to analyst-driven demand. Article Title
• Neutral Sentiment: Canadian Imperial Bank of Commerce nudged its target to C$83.00 with a “tender” rating, only ~1.1% above the current price — a marginal move unlikely to drive large flows. Article Title
• Negative Sentiment: Raymond James raised its target to C$80.00 but keeps a “market perform” rating, which sits below the current price (~2.6% downside) and could weigh on sentiment among more cautious investors. Article Title Ticker Report
• Negative Sentiment: Operationally, Teck warned of cost pressure in Chile tied to a fuel squeeze — higher operating costs or production disruptions in copper/other metals regions could compress margins and cap upside. Article Title

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%.