Teck Resources Ltd (TSE:TECK.B) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Teck Resources Ltd (TSE:TECK.B) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$65.00.

TECK.B has been the subject of several research reports. Citigroup upped their price target on shares of Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on shares of Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. TD Securities increased their price target on shares of Teck Resources from C$63.00 to C$70.00 in a research report on Tuesday, October 21st. CIBC lifted their price target on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a research note on Thursday, November 27th. Finally, National Bankshares downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$62.50 to C$65.00 in a research report on Wednesday, October 8th.

Teck Resources Stock Performance

Teck Resources stock traded down C$2.28 during mid-day trading on Friday, reaching C$70.35. 1,662,378 shares of the stock traded hands, compared to its average volume of 1,126,319. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$72.84. The business’s 50-day moving average is C$62.70 and its 200-day moving average is C$56.40. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a market capitalization of C$34.35 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03.

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%.