TD Securities Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its target price hoisted by equities research analysts at TD Securities from C$76.00 to C$82.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 0.06% from the stock’s current price.

Several other analysts have also issued reports on the company. Scotiabank boosted their target price 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. Desjardins raised their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, January 26th. Raymond James Financial boosted their price objective on Teck Resources from C$70.00 to C$77.00 in a report on Monday, February 9th. National Bank Financial raised their price target on Teck Resources from C$70.00 to C$80.00 in a research report on Thursday, January 29th. Finally, Stifel Nicolaus increased their target price on shares of Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$76.33.

Teck Resources Price Performance

Shares of TSE:TECK.B opened at C$81.95 on Monday. 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 has a market cap of C$40.01 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06. The stock’s fifty day simple moving average is C$72.28 and its two-hundred day simple moving average is C$61.65. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$82.99.

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%.