Teck Resources (TSE:TECK.B) Price Target Raised to C$74.00

Key Points

• Jefferies Financial Group raised its target price for Teck Resources (TSE:TECK.B) from C$60.00 to C$74.00, indicating a potential upside of 33.48% from the current stock price.
• Teck Resources' stock recently traded up 14.3%, reaching C$55.44, with a significant trading volume of 5,120,616 shares compared to its average of 1,428,784.
• Overall, seven analysts rated the stock as a "Buy," with an average rating of "Moderate Buy" and a price target of C$64.12.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price boosted by equities research analysts at Jefferies Financial Group from C$60.00 to C$74.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 27.61% from the stock's current price.

A number of other research analysts have also commented on TECK.B. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating and cut their price target for the stock from C$72.00 to C$58.00 in a report on Friday, July 18th. JPMorgan Chase & Co. lowered Teck Resources from an "overweight" rating to a "neutral" rating and cut their target price for the company from C$63.00 to C$56.00 in a research note on Friday, July 25th. TD Securities cut their target price on Teck Resources from C$64.00 to C$60.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Citigroup cut their target price on Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Finally, Royal Bank Of Canada cut their target price on Teck Resources from C$82.00 to C$67.00 in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$64.12.

Teck Resources Stock Performance

Shares of TECK.B stock traded up C$0.32 during trading hours on Tuesday, reaching C$57.99. 1,794,159 shares of the company's stock were exchanged, compared to its average volume of 1,460,560. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$72.92. The stock has a market capitalization of C$28.35 billion, a P/E ratio of 99.98, a P/E/G ratio of -0.38 and a beta of 1.60. The business has a fifty day moving average price of C$48.14 and a 200-day moving average price of C$50.72. The company has a quick ratio of 0.97, a current ratio of 1.48 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.