National Bankshares Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price target lifted by stock analysts at National Bankshares from C$70.00 to C$80.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. National Bankshares’ price target would indicate a potential upside of 2.17% from the company’s current price.

TECK.B has been the topic of a number of other research reports. Desjardins increased their price target on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday. Scotiabank raised their target price on shares of Teck Resources from C$60.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 8th. Citigroup lifted their target price on shares of Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Stifel Nicolaus increased their price target on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their price objective on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$67.85.

Teck Resources Stock Performance

TSE:TECK.B traded up C$1.19 on Thursday, hitting C$78.30. The company’s stock had a trading volume of 1,346,445 shares, compared to its average volume of 1,102,922. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The stock has a fifty day moving average of C$65.11 and a two-hundred day moving average of C$57.44. The firm has a market capitalization of C$38.23 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03. Teck Resources has a one year low of C$40.23 and a one year high of C$82.00.

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%.