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

Teck Resources (TSE:TECK.B) had its price objective raised by Scotiabank from C$75.00 to C$80.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports.

TECK.B has been the subject of a number of other reports. National Bank Financial increased their price objective on Teck Resources from C$70.00 to C$80.00 in a research report on Thursday, January 29th. Canadian Imperial Bank of Commerce upped their price target on Teck Resources from C$61.00 to C$77.00 in a research note on Wednesday, February 4th. Desjardins increased their price target on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a report 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 research report on Monday, January 12th. Finally, Stifel Nicolaus upped their price objective 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. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$76.33.

Teck Resources Price Performance

Shares of TECK.B opened at C$83.44 on Tuesday. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$85.42. The firm has a 50-day simple moving average of C$73.16 and a 200-day simple moving average of C$61.95. The company has a market capitalization of C$40.74 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06.

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%.