National Bank Financial Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price objective upped by analysts at National Bank Financial from C$85.00 to C$90.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 12.78% from the stock’s previous close.

Several other research firms have also issued reports on TECK.B. Jefferies Financial Group increased their price target on shares of Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Raymond James Financial increased their price target on shares of Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. TD Securities raised their price objective on Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Desjardins raised their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus raised 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 report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average target price of C$76.75.

Teck Resources Price Performance

Shares of TECK.B traded down C$1.20 during trading hours on Wednesday, hitting C$79.80. 297,589 shares of the company were exchanged, compared to its average volume of 1,205,487. The company has a market cap of C$39.07 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of -0.38 and a beta of 1.82. Teck Resources has a fifty-two week low of C$42.95 and a fifty-two week high of C$85.42. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The firm’s fifty day moving average is C$74.56 and its 200 day moving average is C$67.30.

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%.