Teck Resources (TSE:TECK.B – Get Rating) had its target price raised by equities researchers at Raymond James from C$58.00 to C$64.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 18.04% from the stock’s previous close.
A number of other brokerages also recently commented on TECK.B. TD Securities lifted their price target on shares of Teck Resources from C$54.00 to C$70.00 and gave the stock an “action list buy” rating in a report on Monday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a C$35.00 price target (down from C$40.00) on shares of Teck Resources in a report on Monday, January 31st. CSFB raised their price objective on Teck Resources from C$49.53 to C$58.00 in a report on Thursday, April 14th. BMO Capital Markets cut their target price on Teck Resources from C$61.00 to C$57.00 in a research report on Tuesday, April 12th. Finally, National Bankshares boosted their price target on Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Buy” and a consensus target price of C$51.86.
Shares of TECK.B stock traded down C$0.27 during midday trading on Wednesday, reaching C$54.22. 1,351,855 shares of the company traded hands, compared to its average volume of 2,142,905. The firm has a market cap of C$29.03 billion and a PE ratio of 10.19. The company has a debt-to-equity ratio of 39.25, a current ratio of 1.62 and a quick ratio of 0.91. The firm’s 50 day simple moving average is C$49.46 and its two-hundred day simple moving average is C$40.90. Teck Resources has a 1-year low of C$24.84 and a 1-year high of C$56.67.
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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