Teck Resources (TSE:TECK.B) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Teck Resources (TSE:TECK.B) from a neutral rating to a buy rating in a research report released on Monday morning,BayStreet.CA reports. Citigroup currently has C$104.00 price target on the stock, up from their prior price target of C$76.00.

Several other equities analysts also recently commented on the stock. National Bankshares upped their price objective on shares of Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Scotiabank upped their price target on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Stifel Nicolaus increased their price target on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. CIBC raised their price objective on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a research report on Thursday, November 27th. Finally, Desjardins upped their target price on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$71.25.

Teck Resources Stock Up 2.0%

TECK.B opened at C$74.55 on Monday. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$82.00. The stock’s fifty day simple moving average is C$66.27 and its 200 day simple moving average is C$57.98. 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 stock has a market cap of C$36.40 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03.

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%.