Teck Resources Ltd (TSE:TECK.B) Given Consensus Recommendation of “Hold” by Brokerages

Teck Resources Ltd (TSE:TECK.B) has received an average rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$72.58.

TECK.B has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Stifel Nicolaus lifted their price target on Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. Desjardins increased their price objective on shares of 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. TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and raised their target price for the company from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Finally, Raymond James Financial lowered their price target on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th.

Teck Resources Price Performance

TECK.B stock opened at C$76.29 on Thursday. The firm has a 50 day moving average of C$67.03 and a 200-day moving average of C$58.32. The company has a market cap of C$37.24 billion, a price-to-earnings ratio of 30.64, a PEG ratio of -0.38 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$82.18.

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%.