Raymond James Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price target upped by stock analysts at Raymond James from C$70.00 to C$75.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 26.33% from the company’s current price.

Several other brokerages also recently issued reports on TECK.B. Scotiabank raised their price target on Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. Jefferies Financial Group reduced their target price on Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. JPMorgan Chase & Co. cut their target price on Teck Resources from C$78.00 to C$76.00 in a research note on Friday, October 25th. CIBC dropped their target price on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Finally, National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$85.00 to C$77.50 in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$76.29.

Teck Resources Stock Performance

Shares of TECK.B opened at C$59.37 on Thursday. The company has a market cap of C$30.40 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm has a 50-day moving average of C$61.58 and a 200-day moving average of C$64.29. Teck Resources has a one year low of C$49.45 and a one year high of C$74.37. 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.