Teck Resources (TSE:TECK.B) Price Target Cut to C$87.00

Teck Resources (TSE:TECK.B) had its price target decreased by analysts at Bank of America from C$88.00 to C$87.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Bank of America‘s target price indicates a potential upside of 25.18% from the stock’s previous close.

A number of other brokerages have also issued reports on TECK.B. Eight Capital upped their target price on shares of Teck Resources from C$65.00 to C$72.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. National Bankshares upped their target price on shares of Teck Resources from C$77.50 to C$82.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Scotiabank increased their price objective on shares of Teck Resources from C$75.00 to C$83.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Canaccord Genuity Group increased their price objective on Teck Resources from C$75.00 to C$80.00 in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. boosted their price target on Teck Resources from C$70.00 to C$72.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$74.55.

Teck Resources Stock Up 0.8 %

TSE:TECK.B traded up C$0.55 on Friday, reaching C$69.50. The stock had a trading volume of 985,434 shares, compared to its average volume of 1,093,433. The company has a current ratio of 1.49, a quick ratio of 0.97 and a debt-to-equity ratio of 37.28. The company has a 50-day moving average of C$68.31 and a 200 day moving average of C$60.62. The stock has a market cap of C$35.54 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of -0.38 and a beta of 1.42. Teck Resources has a 12-month low of C$47.47 and a 12-month high of C$74.37.

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.