National Bank Financial Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective increased by analysts at National Bank Financial from C$92.50 to C$100.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential upside of 18.29% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a research note on Friday, April 24th. Scotiabank boosted their price objective on Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Raymond James Financial upped their price objective on Teck Resources from C$78.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce lifted their target price on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research note on Friday, April 24th. Two 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, the stock has an average rating of “Hold” and an average target price of C$81.71.

Teck Resources Stock Performance

Shares of TECK.B stock traded up C$1.77 during mid-day trading on Tuesday, reaching C$84.54. 649,660 shares of the company’s stock traded hands, compared to its average volume of 1,139,759. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The firm has a market capitalization of C$41.39 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of -0.38 and a beta of 1.81. Teck Resources has a 12 month low of C$42.95 and a 12 month high of C$98.58. The firm has a 50 day moving average price of C$87.29 and a two-hundred day moving average price of C$78.65.

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%.