Teck Resources (TSE:TECK.B) Price Target Raised to C$92.50

Teck Resources (TSE:TECK.B) had its price objective raised by investment analysts at National Bank Financial from C$90.00 to C$92.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 12.07% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Stifel Nicolaus boosted their target price on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Scotiabank boosted their target price on shares of Teck Resources from C$70.00 to C$75.00 in a research report on Tuesday, April 14th. Desjardins boosted their target price on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$76.00 to C$104.00 in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$80.25.

Teck Resources Trading Down 0.9%

TECK.B traded down C$0.77 during trading on Friday, hitting C$82.54. 410,928 shares of the company’s stock were exchanged, compared to its average volume of 1,185,303. 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 1 year low of C$42.95 and a 1 year high of C$86.48. The stock has a 50 day moving average price of C$74.94 and a 200 day moving average price of C$68.16. The firm has a market cap of C$40.41 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of -0.38 and a beta of 1.82.

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%.