Teck Resources (TSE:TECK.B) Price Target Raised to C$77.00

Teck Resources (TSE:TECK.B) had its price objective upped by Raymond James Financial from C$70.00 to C$77.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other analysts have also issued reports on TECK.B. Canadian Imperial Bank of Commerce raised their target price on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Stifel Nicolaus boosted their target price on shares of Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, October 21st. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from C$76.00 to C$104.00 in a report on Monday, February 2nd. TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating and raised their price target for the stock from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Finally, Desjardins upped their price objective on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$75.00.

Teck Resources Stock Up 3.6%

Teck Resources stock opened at C$81.97 on Monday. 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 has a fifty-two week low of C$40.23 and a fifty-two week high of C$82.44. The firm has a fifty day moving average price of C$68.73 and a two-hundred day moving average price of C$59.28. The firm has a market cap of C$40.02 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of -0.38 and a beta of 2.06.

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%.