Brokerages Set Teck Resources Ltd (TSE:TECK.B) Target Price at C$84.27

Teck Resources Ltd (TSE:TECK.B) has been given an average rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$84.27.

TECK.B has been the subject of several recent analyst reports. Scotiabank boosted their price target on shares of Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a report on Monday, June 15th. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$90.00 to C$93.00 in a report on Friday, July 24th. Canadian Imperial Bank of Commerce lifted their target price on shares of Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday, April 24th. National Bank Financial boosted their target price on shares of Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Canaccord Genuity Group reduced their price target on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th.

Teck Resources Stock Performance

Shares of TECK.B stock opened at C$84.36 on Thursday. Teck Resources has a 1-year low of C$42.95 and a 1-year high of C$98.58. The company has a market cap of C$41.39 billion, a price-to-earnings ratio of 16.57, a PEG ratio of -0.38 and a beta of 1.81. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a 50 day simple moving average of C$86.05 and a 200-day simple moving average of C$80.25.

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%.