JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Key Points

• JPMorgan Chase & Co. has raised its price target for Teck Resources (TSE:TECK.B) from C$56.00 to C$60.00, suggesting a potential downside of 2.52% from the last close.
• Other analysts have differing opinions, with TD Securities and Raymond James Financial increasing their targets to C$63.00 and C$64.00 respectively, while Desjardins lowered its rating to "hold" and decreased its price target significantly.
• Teck Resources' stock is currently trading at C$61.55, reflecting a 2.6% increase, and the company is deemed to play a significant role in the mining sector, especially in metallurgical coal and zinc production.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective increased by investment analysts at JPMorgan Chase & Co. from C$56.00 to C$60.00 in a research note issued on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.'s price objective suggests a potential downside of 2.52% from the company's previous close.

Several other equities research analysts have also recently commented on TECK.B. TD Securities raised their target price on Teck Resources from C$60.00 to C$63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Raymond James Financial lifted their price target on Teck Resources from C$63.00 to C$64.00 in a report on Thursday, August 21st. National Bankshares lowered Teck Resources from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from C$62.50 to C$65.00 in a report on Wednesday. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$72.00 to C$58.00 in a report on Friday, July 18th. Finally, Citigroup lifted their price target on Teck Resources from C$55.00 to C$60.00 and gave the stock a "neutral" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and an average target price of C$65.23.

Teck Resources Trading Up 2.6%

Shares of TECK.B stock traded up C$1.54 on Thursday, hitting C$61.55. The company had a trading volume of 951,027 shares, compared to its average volume of 1,487,745. The firm has a market cap of C$30.03 billion, a P/E ratio of 106.12, a P/E/G ratio of -0.38 and a beta of 1.83. The stock's 50-day moving average is C$50.63 and its two-hundred day moving average is C$50.66. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a twelve month low of C$40.23 and a twelve month high of C$71.11.

Teck Resources Company Profile

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.

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