Desjardins Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its target price boosted by Desjardins from C$65.00 to C$74.00 in a research report report published on Monday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Teck Resources from C$60.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 8th. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and raised their price target for the stock from C$70.00 to C$76.00 in a research note on Thursday, January 22nd. Stifel Nicolaus boosted their price objective on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. CIBC increased their target price on 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, Jefferies Financial Group lifted their target price on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$66.69.

Teck Resources Stock Up 3.4%

Shares of TECK.B opened at C$75.10 on Monday. 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 business has a fifty day moving average of C$64.25 and a 200 day moving average of C$57.13. The company has a market cap of C$36.67 billion, a PE ratio of 30.16, a P/E/G ratio of -0.38 and a beta of 2.03. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$76.55.

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%.