Teck Resources Ltd (TSE:TECK.B) Given Consensus Rating of “Hold” by Brokerages

Shares of Teck Resources Ltd (TSE:TECK.B) have been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$80.25.

Several equities analysts have recently weighed in on TECK.B shares. National Bank Financial raised their target price on Teck Resources from C$90.00 to C$92.50 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Canaccord Genuity Group raised their target price on Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a research report on Friday, April 24th. Stifel Nicolaus lifted their price objective on Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. TD Securities lifted their price objective on Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, Raymond James Financial lifted their price objective on Teck Resources from C$78.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th.

Teck Resources Stock Performance

TSE TECK.B opened at C$86.45 on Wednesday. The company has a market cap of C$42.32 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of -0.38 and a beta of 1.76. The stock’s 50 day simple moving average is C$83.12 and its 200-day simple moving average is C$74.28. Teck Resources has a 1-year low of C$42.95 and a 1-year high of C$98.58. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

About Teck Resources

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%.