Teck Resources (TSE:TECK.B) Price Target Raised to C$74.00

Teck Resources (TSE:TECK.B) had its target price upped by Desjardins from C$65.00 to C$74.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently commented on TECK.B. Stifel Nicolaus upped their price target on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Raymond James Financial lowered their price objective on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Jefferies Financial Group raised their target price on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. Finally, CIBC increased their price objective 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. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus target price of C$66.69.

Teck Resources Stock Performance

TSE TECK.B opened at C$77.11 on Monday. The company’s fifty day moving average is C$65.11 and its two-hundred day moving average is C$57.44. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$77.49. 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 firm has a market capitalization of C$37.65 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of -0.38 and a beta of 2.03.

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%.