Teck Resources (TSE:TECK.B – Get Rating) had its price target increased by investment analysts at Eight Capital from C$48.00 to C$60.00 in a report released on Thursday, BayStreet.CA reports. Eight Capital’s price objective indicates a potential upside of 19.86% from the company’s previous close.
Several other research firms also recently commented on TECK.B. TD Securities lifted their price objective on 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. Scotiabank lifted their price objective on Teck Resources from C$63.00 to C$64.00 in a report on Tuesday. Citigroup lifted their price objective on Teck Resources from C$40.00 to C$52.00 in a report on Monday, February 28th. BMO Capital Markets decreased their price objective on Teck Resources from C$61.00 to C$57.00 in a report on Tuesday, April 12th. Finally, National Bankshares lifted their price objective on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$52.81.
TECK.B stock traded down C$4.30 during mid-day trading on Thursday, hitting C$50.06. 1,831,461 shares of the stock were exchanged, compared to its average volume of 2,144,146. 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 business has a fifty day moving average price of C$49.63 and a 200 day moving average price of C$41.06. Teck Resources has a 12 month low of C$24.84 and a 12 month high of C$56.67. The stock has a market capitalization of C$26.80 billion and a price-to-earnings ratio of 9.44.
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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