Teck Resources (TSE:TECK.B) Given New C$90.00 Price Target at National Bank Financial

Teck Resources (TSE:TECK.B) had its price objective hoisted by National Bank Financial from C$85.00 to C$90.00 in a report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

TECK.B has been the subject of several other reports. TD Securities increased their price objective 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. Raymond James Financial increased their price objective on Teck Resources from C$70.00 to C$77.00 in a report on Monday, February 9th. Scotiabank increased their price objective on Teck Resources from C$70.00 to C$75.00 in a report on Tuesday. Jefferies Financial Group increased their price objective on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Finally, Canadian Imperial Bank of Commerce increased their price target on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus price target of C$76.75.

Teck Resources Price Performance

TECK.B stock opened at C$80.09 on Wednesday. The company has a market capitalization of C$39.21 billion, a P/E ratio of 28.30, a PEG ratio of -0.38 and a beta of 1.82. Teck Resources has a twelve month low of C$42.95 and a twelve month high of C$85.42. The business has a 50 day simple moving average of C$74.63 and a 200-day simple moving average of C$67.39. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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%.