National Bank Financial Boosts Teck Resources (TSE:TECK.B) Price Target to C$105.00

Teck Resources (TSE:TECK.B) had its price objective hoisted by research analysts at National Bank Financial from C$100.00 to C$105.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 23.51% from the company’s previous close.

A number of other analysts also recently issued reports on TECK.B. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$90.00 to C$93.00 in a report on Friday. Canadian Imperial Bank of Commerce increased their price objective on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a report on Friday, April 24th. Scotiabank raised their target price on Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Finally, Canaccord Genuity Group decreased their target price on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research note on Friday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus target price of C$84.27.

Teck Resources Stock Performance

Shares of TECK.B stock opened at C$85.01 on Friday. 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 firm has a fifty day moving average price of C$86.24 and a 200 day moving average price of C$79.56. The company has a market cap of C$41.71 billion, a P/E ratio of 22.55, a PEG ratio of -0.38 and a beta of 1.81. Teck Resources has a 12 month low of C$42.95 and a 12 month high of C$98.58.

More Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Raymond James upgraded Teck Resources to outperform from market perform and raised its price target to C$93, implying additional upside for the stock. Teck Resources upgraded by Raymond James
• Positive Sentiment: National Bank Financial raised its price target on Teck Resources to C$105 from C$100, signaling continued confidence even while keeping a sector perform rating. National Bank Financial raises Teck target
• Positive Sentiment: Coverage highlighting Teck’s Q2 earnings beat and record copper-driven results is supporting the stock, as higher copper output and prices boosted profit. Teck Resources up after earnings beat
• Positive Sentiment: Another report said Teck topped profit estimates on stronger copper production and prices, reinforcing the positive sentiment around the stock. Teck tops profit estimates
• Neutral Sentiment: Canaccord Genuity cut its price target to C$81 from C$84 and maintained a hold rating, which tempers some of the optimism despite the stronger operating results. Canaccord lowers Teck target

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%.