Teck Resources (TSE:TECK.B) Price Target Increased to C$60.00 by Analysts at Eight Capital

Teck Resources (TSE:TECK.BGet 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 Company Profile (Get Rating)

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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