National Bank Financial Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective lifted by National Bank Financial from C$100.00 to C$105.00 in a research note published on Friday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Scotiabank increased their target price on shares of Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$90.00 to C$93.00 in a research note on Friday. Canadian Imperial Bank of Commerce lifted their price objective on shares of Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a report on Friday, April 24th. Finally, Canaccord Genuity Group lowered their price objective on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$84.27.

Teck Resources Stock Up 1.0%

Shares of TECK.B opened at C$85.01 on Friday. The company has a market cap of C$41.71 billion, a PE ratio of 22.55, a P/E/G ratio of -0.38 and a beta of 1.81. The business has a fifty day moving average of C$86.24 and a 200 day moving average of C$79.56. Teck Resources has a 52-week low of C$42.95 and a 52-week high of C$98.58. 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 News Roundup

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Raymond James upgraded Teck Resources to outperform from market perform and raised its price target to C$93, implying additional upside for the stock. Teck Resources upgraded by Raymond James
• Positive Sentiment: National Bank Financial raised its price target on Teck Resources to C$105 from C$100, signaling continued confidence even while keeping a sector perform rating. National Bank Financial raises Teck target
• Positive Sentiment: Coverage highlighting Teck’s Q2 earnings beat and record copper-driven results is supporting the stock, as higher copper output and prices boosted profit. Teck Resources up after earnings beat
• Positive Sentiment: Another report said Teck topped profit estimates on stronger copper production and prices, reinforcing the positive sentiment around the stock. Teck tops profit estimates
• Neutral Sentiment: Canaccord Genuity cut its price target to C$81 from C$84 and maintained a hold rating, which tempers some of the optimism despite the stronger operating results. Canaccord lowers Teck target

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%.