Teck Resources (TSE:TECK.B) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised Teck Resources’ price target from C$100 to C$105, keeping a sector perform rating and implying about 22.9% upside from the current price.
• Other analysts have been mixed on the stock: recent calls include higher targets from Scotiabank and CIBC, a cut from Canaccord, and an upgrade from Raymond James. Overall, MarketBeat shows a Hold consensus with a consensus target price of C$82.83.
• Teck shares rose to C$85.42 in Friday trading, with the company sporting a C$41.82 billion market cap and a 52-week range of C$42.95 to C$98.58.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price boosted by equities researchers at National Bank Financial from C$100.00 to C$105.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 22.92% from the company's current price.

Several other equities research analysts also recently commented on TECK.B. Scotiabank lifted their price objective on shares of Teck Resources from C$80.00 to C$85.00 and gave the stock a "sector perform" rating in a research note on Monday, June 15th. Canaccord Genuity Group cut their target price on Teck Resources from C$84.00 to C$81.00 and set a "hold" rating on the stock in a research report on Friday. Canadian Imperial Bank of Commerce raised their target price 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, Raymond James Financial raised Teck Resources from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from C$90.00 to C$93.00 in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of "Hold" and a consensus target price of C$82.83.

Teck Resources Stock Performance

TSE:TECK.B traded up C$1.24 during trading hours on Friday, hitting C$85.42. 584,113 shares of the company were exchanged, compared to its average volume of 1,133,529. 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 52-week low of C$42.95 and a 52-week high of C$98.58. The stock has a market capitalization of C$41.82 billion, a price-to-earnings ratio of 22.66, a PEG ratio of -0.38 and a beta of 1.81. The company's 50 day moving average price is C$86.23 and its 200-day moving average price is C$79.52.

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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