Stifel Nicolaus Increases Teck Resources (TSE:TECK.B) Price Target to C$80.00

Teck Resources (TSE:TECK.B) had its price target raised by stock analysts at Stifel Nicolaus from C$65.00 to C$80.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 0.35% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce boosted their price objective on shares of Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$76.00 to C$104.00 in a report on Monday, February 2nd. TD Securities cut shares of Teck Resources from a “buy” rating to a “hold” rating and upped their price objective for the company from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. National Bank Financial raised their price objective on Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Finally, Scotiabank boosted their target price on 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. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Teck Resources has a consensus rating of “Hold” and a consensus target price of C$75.00.

Teck Resources Price Performance

Shares of TECK.B opened at C$79.72 on Wednesday. The stock has a market cap of C$38.92 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06. Teck Resources has a 1 year low of C$40.23 and a 1 year high of C$82.44. The stock’s 50-day moving average price is C$69.08 and its two-hundred day moving average price is C$59.42. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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%.