Teck Resources (TSE:TECK.B) Given New C$80.00 Price Target at Raymond James Financial

Teck Resources (TSE:TECK.B) had its target price boosted by analysts at Raymond James Financial from C$78.00 to C$80.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price target would indicate a potential downside of 3.08% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price target on Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. National Bank Financial increased their price objective on Teck Resources from C$90.00 to C$92.50 and gave the company a “sector perform” rating in a research report on Friday. Canadian Imperial Bank of Commerce increased their price objective on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday. Desjardins increased their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Finally, Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$76.00 to C$104.00 in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of C$80.25.

Teck Resources Price Performance

Shares of TSE:TECK.B traded down C$0.77 on Friday, hitting C$82.54. The company’s stock had a trading volume of 410,928 shares, compared to its average volume of 1,185,303. The company has a 50-day simple moving average of C$74.94 and a 200 day simple moving average of C$68.16. Teck Resources has a 1 year low of C$42.95 and a 1 year high of C$86.48. The company has a market capitalization of C$40.41 billion, a PE ratio of 29.17, a PEG ratio of -0.38 and a beta of 1.82. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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%.