Teck Resources Ltd (TSE:TECK.B) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Teck Resources has a consensus “Hold” rating from nine analysts: six recommend holding the shares and three recommend buying them. The average 12-month price target is C$84.27.
• Recent analyst actions were mixed, with Raymond James upgrading the stock to “outperform” and raising its target to C$93, while Canaccord lowered its target to C$81 and maintained a “hold” rating.
• Shares opened at C$80.87, down 2.3%, with the company valued at approximately C$39.67 billion. Teck’s diversified mining portfolio is led by metallurgical coal and copper, while its Quebrada Blanca 2 project is expected to significantly increase attributable copper production.

Shares of Teck Resources Ltd (TSE:TECK.B - Get Free Report) have earned a consensus recommendation of "Hold" from the nine research firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$84.27.

Several brokerages have recently commented on TECK.B. Scotiabank lifted their target price on Teck Resources from C$80.00 to C$85.00 and gave the stock a "sector perform" rating in a research report on Monday, June 15th. Raymond James Financial upgraded Teck Resources from a "market perform" rating to an "outperform" rating and boosted their price target for the company from C$90.00 to C$93.00 in a report on Friday, July 24th. National Bank Financial upped their price target on Teck Resources from C$100.00 to C$105.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce raised their price objective on Teck Resources from C$79.00 to C$83.00 and gave the stock a "tender" rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group decreased 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 report on Friday, July 24th.

Teck Resources Stock Down 2.3%

Shares of Teck Resources stock opened at C$80.87 on Thursday. The business has a 50-day moving average price of C$86.20 and a 200 day moving average price of C$79.91. Teck Resources has a fifty-two week low of C$42.95 and a fifty-two week high of C$98.58. The firm has a market cap of C$39.67 billion, a P/E ratio of 21.45, a P/E/G ratio of -0.38 and a beta of 1.81. 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. 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%.

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