Teck Resources (TSE:TECK.B) Given New C$70.00 Price Target at TD Securities

Key Points

• Teck Resources has had its target price increased to C$70.00 by TD Securities, suggesting a potential upside of 16.98% from the stock's previous close.
• Other analysts have also raised their price targets for Teck, with Jefferies Financial Group setting a target of C$74.00 and Scotiabank following closely with C$74.00 as well.
• The company's stock is currently trading at C$59.84, with a twelve month low of C$40.23 and a high of C$71.11.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price lifted by equities researchers at TD Securities from C$63.00 to C$70.00 in a research note issued on Tuesday,BayStreet.CA reports. TD Securities' target price suggests a potential upside of 16.98% from the stock's previous close.

TECK.B has been the topic of several other research reports. Jefferies Financial Group boosted their price target on Teck Resources from C$60.00 to C$74.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Scotiabank boosted their price target on 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. Raymond James Financial dropped their price target on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. National Bankshares cut Teck Resources from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from C$62.50 to C$65.00 in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$67.00.

Teck Resources Stock Performance

Shares of TECK.B traded down C$2.30 during midday trading on Tuesday, reaching C$59.84. 512,884 shares of the stock were exchanged, compared to its average volume of 1,482,679. The business's 50-day moving average price is C$53.21 and its 200 day moving average price is C$51.01. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a twelve month low of C$40.23 and a twelve month high of C$71.11. The company has a market capitalization 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.

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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