Teck Resources Ltd (TSE:TECK.B) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Teck Resources Ltd (TSE:TECK.B) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$64.31.

Several research firms recently commented on TECK.B. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Citigroup boosted their price target on Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. TD Securities upped their price target on Teck Resources from C$63.00 to C$70.00 in a research note 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 note on Friday, October 10th. Finally, CIBC boosted their target price on Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a report on Thursday, November 27th.

Teck Resources Stock Performance

Shares of TECK.B stock opened at C$68.99 on Friday. The company’s fifty day moving average price is C$61.46 and its 200-day moving average price is C$55.84. The stock has a market cap of C$33.68 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$72.07.

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%.