Teck Resources Ltd (TSE:TECK.B) Given Average Recommendation of “Hold” by Analysts

Shares of Teck Resources Ltd (TSE:TECK.B) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$75.00.

TECK.B has been the subject of a number of recent research reports. Raymond James Financial boosted their price objective on Teck Resources from C$70.00 to C$77.00 in a research note on Monday. Canadian Imperial Bank of Commerce upped their price target on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and raised their price objective for the company from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$76.00 to C$104.00 in a research note on Monday, February 2nd. Finally, National Bank Financial increased their price target on Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th.

Teck Resources Stock Performance

TSE TECK.B traded down C$2.50 on Thursday, hitting C$79.47. 279,658 shares of the company traded hands, compared to its average volume of 1,168,133. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The business’s 50 day moving average price is C$68.73 and its 200-day moving average price is C$59.28. The company has a market capitalization of C$38.80 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of -0.38 and a beta of 2.06. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$82.44.

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%.