Teck Resources (TSE:TECK.B) PT Raised to C$35.00

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 Company Profile

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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