Stifel Nicolaus Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Key Points

• Stifel Nicolaus has raised its price target for Teck Resources (TSE:TECK.B) from C$60.00 to C$65.00, suggesting an upside potential of 8.62% from the previous close.
• Other analysts have varying opinions; Desjardins downgraded the stock from "buy" to "hold" with a price target of C$58.00, while Scotiabank upgraded its price target to C$74.00 with an "outperform" rating.
• Teck Resources has a market cap of C$29.20 billion and its stock is trading at C$59.84, marking a decrease of C$2.30 during midday trading.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective raised by investment analysts at Stifel Nicolaus from C$60.00 to C$65.00 in a report released on Tuesday,BayStreet.CA reports. Stifel Nicolaus' price objective would suggest a potential upside of 8.62% from the company's previous close.

Several other analysts have also recently weighed in on TECK.B. Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating and dropped their price objective for the stock from C$72.00 to C$58.00 in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. Royal Bank Of Canada dropped their target price on shares of Teck Resources from C$82.00 to C$67.00 in a research report on Friday, July 25th. Scotiabank boosted their target price on shares of Teck Resources from C$70.00 to C$74.00 and gave the company an "outperform" rating in a research report on Tuesday, October 14th. Finally, Raymond James Financial dropped their target price on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and an average target price of C$67.00.

Teck Resources Stock Performance

Teck Resources stock traded down C$2.30 during midday trading on Tuesday, hitting C$59.84. The company's stock had a trading volume of 512,884 shares, compared to its average volume of 1,482,679. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$71.11. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The company has a 50-day moving average price of C$53.21 and a two-hundred day moving average price of C$51.01. The company has a market cap of C$29.20 billion, a price-to-earnings ratio of 103.17, a PEG ratio of -0.38 and a beta of 1.83.

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.

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