Brokerages Set Teck Resources Ltd (TSE:TECK.B) Target Price at C$63.12

Key Points

• Teck Resources Ltd has received a consensus rating of "Moderate Buy" from nine research firms, with three holding and six recommending buy ratings.
• The average price target among analysts for Teck Resources is C$63.12, although several analysts have recently lowered their targets significantly.
• Teck is a diversified miner primarily involved in coal, copper, zinc, and oil sands, ranking as the world's second-largest exporter of seaborne metallurgical coal.

Teck Resources Ltd (TSE:TECK.B - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$63.12.

A number of equities analysts recently weighed in on the company. Desjardins cut 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 research note on Friday, July 18th. JPMorgan Chase & Co. downgraded Teck Resources from an "overweight" rating to a "neutral" rating and lowered their price target for the company from C$63.00 to C$56.00 in a report on Friday, July 25th. National Bankshares lowered their price target on Teck Resources from C$66.00 to C$62.50 in a report on Friday, July 25th. Royal Bank Of Canada lowered their price target on Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. Finally, Scotiabank lowered their price target on Teck Resources from C$66.00 to C$57.00 in a report on Friday, July 25th.

Teck Resources Price Performance

Shares of TECK.B stock traded down C$0.65 during mid-day trading on Thursday, hitting C$43.90. 233,372 shares of the stock traded hands, compared to its average volume of 1,403,120. Teck Resources has a twelve month low of C$40.23 and a twelve month high of C$72.92. The firm has a market cap of C$22.48 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company's 50-day simple moving average is C$50.46 and its 200-day simple moving average is C$52.38. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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.