Teck Resources (TSE:TECK.B) Price Target Raised to C$80.00

Teck Resources (TSE:TECK.B) had its price target lifted by Stifel Nicolaus from C$65.00 to C$80.00 in a research report released on Wednesday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

TECK.B has been the subject of a number of other research reports. Raymond James Financial raised their target price on shares of Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. National Bank Financial raised their price objective on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$76.00 to C$104.00 in a report on Monday, February 2nd. Scotiabank raised their price target on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Finally, TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$75.00.

Teck Resources Trading Up 0.7%

TECK.B opened at C$80.27 on Wednesday. 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$82.44. The stock has a market capitalization of C$39.19 billion, a P/E ratio of 32.24, a P/E/G ratio of -0.38 and a beta of 2.06. The firm’s fifty day simple moving average is C$69.43 and its 200 day simple moving average is C$59.66.

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%.