Teck Resources (TSE:TECK.B) had its price target increased by investment analysts at CIBC to C$35.00 in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective points to a potential upside of 11.68% from the company’s current price.
TECK.B has been the subject of a number of other reports. TD Securities boosted their target price on Teck Resources from C$35.00 to C$37.00 in a research report on Wednesday, June 30th. Raymond James boosted their target price on Teck Resources from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, June 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a C$41.00 target price on shares of Teck Resources in a research report on Wednesday. Scotiabank boosted their target price on Teck Resources from C$35.00 to C$36.00 in a research report on Monday, July 19th. Finally, BMO Capital Markets raised Teck Resources from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$40.00 to C$44.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Teck Resources has a consensus rating of “Buy” and an average price target of C$37.06.
Shares of Teck Resources stock opened at C$31.34 on Wednesday. Teck Resources has a one year low of C$15.81 and a one year high of C$34.25. The firm has a market capitalization of C$16.69 billion and a price-to-earnings ratio of 103.09. The business has a 50-day simple moving average of C$28.71 and a 200 day simple moving average of C$27.94. The company has a debt-to-equity ratio of 42.01, a current ratio of 1.26 and a quick ratio of 0.48.
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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