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

Shares of Teck Resources Ltd (TSE:TECK.B) have earned an average rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$71.86.

Several research analysts have issued reports on TECK.B shares. Canaccord Genuity Group raised their price target on shares of Teck Resources from C$59.00 to C$75.00 in a report on Wednesday, April 17th. National Bankshares boosted their price target on shares of Teck Resources from C$66.00 to C$70.00 in a research note on Friday, February 23rd. Jefferies Financial Group boosted their price target on shares of Teck Resources from C$75.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Scotiabank lifted their price objective on shares of Teck Resources from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, January 15th. Finally, Bank of America lifted their price objective on shares of Teck Resources from C$67.00 to C$88.00 in a report on Tuesday, April 9th.

Teck Resources Stock Up 8.7 %

TSE:TECK.B opened at C$67.65 on Friday. The company has a debt-to-equity ratio of 39.21, a current ratio of 1.10 and a quick ratio of 0.97. Teck Resources has a one year low of C$47.47 and a one year high of C$69.41. The firm’s 50 day simple moving average is C$59.39 and its 200 day simple moving average is C$54.69. The company has a market cap of C$34.54 billion, a PE ratio of 14.58, a P/E/G ratio of -0.38 and a beta of 1.44.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.