Brokerages Set Teck Resources Ltd (TSE:TECK.B) PT at C$75.00

Teck Resources Ltd (TSE:TECK.B) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$75.00.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from C$72.00 to C$58.00 in a research note on Thursday. Citigroup dropped their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Canaccord Genuity Group reduced their price target on shares of Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Scotiabank decreased their price target on shares of Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group cut their price objective on Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th.

Teck Resources Stock Performance

Shares of TECK.B stock opened at C$46.70 on Friday. The company has a market capitalization of C$23.91 billion, a P/E ratio of 16.74, a P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$74.37. The business’s 50 day moving average is C$56.24 and its two-hundred day moving average is C$61.41. The company has a current ratio of 1.48, a quick ratio of 0.97 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.