National Bank Financial Boosts Teck Resources (TSE:TECK.B) Price Target to C$90.00

Teck Resources (TSE:TECK.B) had its price target lifted by National Bank Financial from C$85.00 to C$90.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 13.48% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus upped their price target on Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Jefferies Financial Group increased their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Desjardins increased their price target on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Scotiabank increased their target price on shares of Teck Resources from C$70.00 to C$75.00 in a research report on Tuesday. Finally, TD Securities increased their target price on shares of Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Teck Resources has an average rating of “Hold” and an average price target of C$76.75.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at C$79.31 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. Teck Resources has a twelve month low of C$42.95 and a twelve month high of C$85.42. The stock has a market cap of C$38.83 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of -0.38 and a beta of 1.82. The company’s fifty day moving average is C$74.75 and its 200 day moving average is C$67.47.

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%.