Teck Resources (TSE:TECK.B) Price Target Raised to C$80.00

Teck Resources (TSE:TECK.B) had its price target increased by investment analysts at Jefferies Financial Group from C$71.00 to C$80.00 in a research report issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 13.52% from the stock’s previous close.

Several other research analysts have also recently weighed in on TECK.B. TD Securities boosted their price target on Teck Resources from C$63.00 to C$70.00 in a research note on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price objective on Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Citigroup boosted their target price on Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Scotiabank raised their price target on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$65.00.

Teck Resources Stock Up 2.1%

Shares of TECK.B traded up C$1.48 on Monday, hitting C$70.47. 488,421 shares of the stock traded hands, compared to its average volume of 1,018,669. Teck Resources has a one year low of C$40.23 and a one year high of C$72.07. The company has a market capitalization of C$34.41 billion, a PE ratio of 28.30, a P/E/G ratio of -0.38 and a beta of 2.03. The business has a 50 day simple moving average of C$61.46 and a 200 day simple moving average of C$55.86. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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%.