Teck Resources (TSE:TECK.B) Price Target Raised to C$105.00

Teck Resources (TSE:TECK.B) had its price objective hoisted by Raymond James Financial from C$93.00 to C$105.00 in a report released on Wednesday morning,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

Several other research analysts have also issued reports on TECK.B. Scotiabank lifted their price target on shares of Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Canaccord Genuity Group cut their price objective on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Finally, National Bank Financial raised their price objective on Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$85.36.

Teck Resources Trading Down 1.4%

Shares of Teck Resources stock opened at C$96.43 on Wednesday. The business has a fifty day simple moving average of C$86.98 and a 200-day simple moving average of C$82.75. Teck Resources has a fifty-two week low of C$43.85 and a fifty-two week high of C$99.81. The firm has a market cap of C$47.31 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of -0.38 and a beta of 1.80. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

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%.