CIBC Increases Teck Resources (TSE:TECK.B) Price Target to C$77.00

Teck Resources (TSE:TECK.B) had its price target boosted by investment analysts at CIBC from C$61.00 to C$77.00 in a note issued to investors on Wednesday,BayStreet.CA reports.

TECK.B has been the topic of several other reports. National Bankshares upped their price target on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Desjardins increased their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Scotiabank lifted their price objective on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, January 8th. Jefferies Financial Group boosted their target price on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Finally, Raymond James Financial decreased their price target on shares of Teck Resources from C$64.00 to C$63.00 in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources presently has an average rating of “Hold” and a consensus price target of C$72.58.

Teck Resources Stock Performance

Teck Resources stock traded down C$3.76 during trading hours on Wednesday, reaching C$77.00. 1,395,606 shares of the company were exchanged, compared to its average volume of 1,176,681. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$82.18. 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 50-day moving average of C$66.70 and a 200 day moving average of C$58.19. The firm has a market cap of C$37.59 billion, a price-to-earnings ratio of 30.92, a PEG ratio of -0.38 and a beta of 2.06.

Teck Resources Company Profile

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%.