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

Teck Resources (TSE:TECK.B) 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.

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

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.