Teck Resources (TSE:TECK.B) Given New C$63.00 Price Target at TD Securities

Key Points

• TD Securities has raised the price target for Teck Resources (TSE:TECK.B) from C$60.00 to C$63.00, indicating a potential upside of 14.19% from the current stock price.
• Teck Resources is currently rated as a "Moderate Buy" by analysts, with a consensus price target of C$64.35, while several other firms have adjusted their price targets recently.
• The company specializes in metallurgical coal, copper, zinc, and oil sands and ranks as the world's second-largest exporter of seaborne metallurgical coal.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price hoisted by investment analysts at TD Securities from C$60.00 to C$63.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' target price would indicate a potential upside of 15.47% from the company's previous close.

TECK.B has been the subject of a number of other research reports. Citigroup cut their price target on shares of Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. National Bankshares cut their price target on shares of Teck Resources from C$66.00 to C$62.50 in a research note on Friday, July 25th. JPMorgan Chase & Co. cut shares of Teck Resources from an "overweight" rating to a "neutral" rating and cut their price target for the company from C$63.00 to C$56.00 in a research note on Friday, July 25th. Royal Bank Of Canada cut their target price on shares of Teck Resources from C$82.00 to C$67.00 in a research note on Friday, July 25th. Finally, Scotiabank cut their target price on shares of Teck Resources from C$57.00 to C$55.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$64.35.

Teck Resources Stock Up 0.3%

Teck Resources stock traded up C$0.14 during mid-day trading on Wednesday, reaching C$54.56. The company's stock had a trading volume of 1,225,994 shares, compared to its average volume of 1,469,084. The company has a market capitalization of C$26.67 billion, a price-to-earnings ratio of 94.07, a price-to-earnings-growth ratio of -0.38 and a beta of 1.60. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$72.92. The business's 50 day simple moving average is C$48.30 and its 200 day simple moving average is C$50.70. 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 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.