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

Shares of Teck Resources Ltd (TSE:TECK.B) have earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$76.33.

TECK.B has been the topic of a number of research analyst reports. Scotiabank increased their target price on Teck Resources from C$75.00 to C$80.00 in a report on Tuesday, February 24th. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$76.00 to C$104.00 in a report on Monday, February 2nd. Desjardins raised their price objective on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group lifted their price objective on shares of Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Finally, Stifel Nicolaus boosted their target price on shares of Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th.

Teck Resources Stock Down 4.7%

Teck Resources stock traded down C$3.24 during midday trading on Monday, hitting C$65.41. The stock had a trading volume of 249,797 shares, compared to its average volume of 1,256,793. 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 stock has a market cap of C$31.99 billion, a P/E ratio of 23.11, a P/E/G ratio of -0.38 and a beta of 1.92. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$85.42. The business has a fifty day moving average price of C$74.62 and a 200 day moving average price of C$63.51.

Teck Resources Company Profile

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%.