Teck Resources (TSE:TECK.B) Price Target Cut to C$70.00 by Analysts at Eight Capital

Teck Resources (TSE:TECK.BGet Free Report) had its price target dropped by equities researchers at Eight Capital from C$75.00 to C$70.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Eight Capital’s price target would suggest a potential upside of 44.09% from the stock’s current price.

Several other research analysts have also commented on the company. Canaccord Genuity Group reduced their price target on Teck Resources from C$71.00 to C$66.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Scotiabank cut their price objective on Teck Resources from C$75.00 to C$72.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Stifel Nicolaus lifted their price target on shares of Teck Resources from C$68.00 to C$71.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group increased their price objective on shares of Teck Resources from C$70.00 to C$73.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$67.00 to C$70.00 in a research note on Friday, July 28th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$64.35.

Check Out Our Latest Stock Report on TECK.B

Teck Resources Stock Down 0.3 %

TECK.B stock opened at C$48.58 on Wednesday. The company has a market cap of C$24.88 billion, a price-to-earnings ratio of 11.43, a PEG ratio of -0.38 and a beta of 1.30. The firm has a 50-day moving average of C$53.45 and a two-hundred day moving average of C$54.97. Teck Resources has a 12 month low of C$42.39 and a 12 month high of C$66.04. The company has a current ratio of 1.20, a quick ratio of 0.97 and a debt-to-equity ratio of 37.91.

Teck Resources Company Profile

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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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Analyst Recommendations for Teck Resources (TSE:TECK.B)

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