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

Teck Resources Ltd (TSE:TECK.B) has received an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$75.50.

Several equities analysts recently issued reports on TECK.B shares. Raymond James Financial raised their price target on Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. TD Securities lifted their target price on shares of 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. Jefferies Financial Group upped their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Desjardins upped their price objective on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce increased their target price on Teck Resources from C$61.00 to C$77.00 in a research note on Wednesday, February 4th.

Teck Resources Price Performance

Shares of Teck Resources stock opened at C$73.51 on Friday. The company has a fifty day moving average of C$74.51 and a 200-day moving average of C$65.96. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$85.42. The stock has a market capitalization of C$35.99 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of -0.38 and a beta of 1.92. 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 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%.