Teck Resources Ltd (TSE:TECK.B) Receives C$63.54 Consensus Target Price from Analysts

Teck Resources Ltd (TSE:TECK.B) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$63.54.

Several research firms have issued reports on TECK.B. TD Securities increased their target price on shares of Teck Resources from C$63.00 to C$70.00 in a research note on Tuesday, October 21st. Jefferies Financial Group lowered their price objective on Teck Resources from C$80.00 to C$71.00 in a research report on Monday, December 8th. CIBC boosted their target price on Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a research report on Thursday, November 27th. JPMorgan Chase & Co. upped their target price on Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. Finally, Stifel Nicolaus lifted their price target on Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, October 21st.

Teck Resources Trading Down 1.2%

Shares of Teck Resources stock opened at C$61.57 on Wednesday. The company’s 50-day moving average price is C$59.72 and its 200-day moving average price is C$54.39. 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$64.24. The company has a market cap of C$30.06 billion, a price-to-earnings ratio of 24.73, a PEG ratio of -0.38 and a beta of 1.80.

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%.