Raymond James Financial Increases Teck Resources (TSE:TECK.B) Price Target to C$77.00

Teck Resources (TSE:TECK.B) had its price target lifted by stock analysts at Raymond James Financial from C$70.00 to C$77.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Raymond James Financial’s target price suggests a potential downside of 2.72% from the stock’s current price.

A number of other research firms have also weighed in on TECK.B. TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating and raised their price objective for the company from C$70.00 to C$76.00 in a research note on Thursday, January 22nd. Scotiabank raised their price target on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. Desjardins upped their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus increased their target price on Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. Finally, National Bankshares lifted their target price on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Teck Resources has an average rating of “Hold” and an average price target of C$73.75.

Teck Resources Trading Up 0.8%

TSE TECK.B opened at C$79.15 on Monday. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$82.18. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The stock’s fifty day moving average price is C$68.33 and its 200-day moving average price is C$59.12. The stock has a market cap of C$38.64 billion, a P/E ratio of 31.79, a P/E/G ratio of -0.38 and a beta of 2.06.

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%.