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

Shares of Teck Resources Ltd (TSE:TECK.B) have been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$81.08.

Several equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce upped their price target on shares of Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday, April 24th. National Bank Financial lifted their price objective on shares of Teck Resources from C$90.00 to C$92.50 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Scotiabank boosted their target price on shares of Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Canaccord Genuity Group increased their target price on Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a report on Friday, April 24th. Finally, Raymond James Financial increased their target price on Teck Resources from C$78.00 to C$80.00 and gave the company a “market perform” rating in a report on Friday, April 24th.

Teck Resources Stock Performance

Shares of TECK.B opened at C$86.12 on Friday. The company has a 50-day moving average of C$86.93 and a two-hundred day moving average of C$77.60. The stock has a market cap of C$42.16 billion, a price-to-earnings ratio of 22.84, a PEG ratio of -0.38 and a beta of 1.76. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a one year low of C$42.95 and a one year high of C$98.58.

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%.