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

Teck Resources Ltd (TSE:TECK.B – Get Free Report) has been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$85.36.

Several research analysts have issued reports on TECK.B shares. Canaccord Genuity Group dropped their price target on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Raymond James Financial lifted their target price on Teck Resources from C$93.00 to C$105.00 and gave the stock an “outperform” rating in a report on Wednesday. National Bank Financial boosted their target price on Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Finally, Scotiabank increased their price target on Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Monday, June 15th.

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Teck Resources Trading Down 1.4%

Shares of TSE:TECK.B opened at C$96.43 on Monday. The stock has a market capitalization of C$47.31 billion, a price-to-earnings ratio of 18.94, a PEG ratio of -0.38 and a beta of 1.80. Teck Resources has a 1-year low of C$43.85 and a 1-year high of C$99.81. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The company has a 50 day moving average price of C$86.98 and a 200 day moving average price of C$82.75.

About Teck Resources

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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%.

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