Stifel Nicolaus Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price target upped by Stifel Nicolaus from C$65.00 to C$80.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 2.70% from the company’s previous close.

Other research analysts have also issued research reports about the stock. National Bankshares upped their price target on shares of Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. TD Securities downgraded Teck Resources from a “buy” rating to a “hold” rating and upped their target price for the company from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce increased their target price on Teck Resources from C$61.00 to C$77.00 in a research note on Wednesday, February 4th. Jefferies Financial Group boosted their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Finally, Scotiabank upped their price objective on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Teck Resources has a consensus rating of “Hold” and a consensus price target of C$75.00.

Teck Resources Stock Performance

TECK.B stock traded up C$3.07 during midday trading on Wednesday, reaching C$82.22. 850,643 shares of the company were exchanged, compared to its average volume of 1,184,030. The firm has a market capitalization of C$40.14 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06. The business has a 50-day moving average price of C$68.33 and a two-hundred day moving average price of C$59.12. Teck Resources has a one year low of C$40.23 and a one year high of C$82.22. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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%.