National Bank Financial Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective boosted by stock analysts at National Bank Financial from C$100.00 to C$105.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 22.92% from the stock’s previous close.

Several other analysts have also commented on the stock. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$90.00 to C$93.00 in a research report on Friday. Scotiabank increased their target price on shares of Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Canadian Imperial Bank of Commerce raised their target price on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday, April 24th. Finally, Canaccord Genuity Group cut their price target on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research note on Friday. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average price target of C$82.83.

Teck Resources Stock Performance

Shares of TSE:TECK.B traded up C$1.24 during trading on Friday, hitting C$85.42. 584,113 shares of the stock traded hands, compared to its average volume of 1,133,529. 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 company has a fifty day moving average price of C$86.23 and a two-hundred day moving average price of C$79.52. Teck Resources has a 52-week low of C$42.95 and a 52-week high of C$98.58. The company has a market cap of C$41.82 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of -0.38 and a beta of 1.81.

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%.