Canadian Imperial Bank of Commerce Increases Teck Resources (TSE:TECK.B) Price Target to C$83.00

Teck Resources (TSE:TECK.B) had its target price upped by equities researchers at Canadian Imperial Bank of Commerce from C$79.00 to C$83.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “tender” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 0.94% from the company’s current price.

Several other brokerages have also recently issued reports on TECK.B. Scotiabank raised their price objective on Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. TD Securities raised their price objective on Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$76.00 to C$104.00 in a research note on Monday, February 2nd. Stifel Nicolaus raised their price objective on Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Finally, National Bank Financial raised their price objective on Teck Resources from C$90.00 to C$92.50 and gave the stock a “sector perform” rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$80.25.

Teck Resources Trading Down 1.3%

Shares of TSE:TECK.B opened at C$82.23 on Friday. Teck Resources has a 52-week low of C$42.95 and a 52-week high of C$86.48. The stock has a market cap of C$40.26 billion, a price-to-earnings ratio of 29.06, a PEG ratio of -0.38 and a beta of 1.82. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The business has a 50-day moving average price of C$74.98 and a 200-day moving average price of C$68.38.

Key Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: National Bank Financial raised its price target to C$92.50 and kept a “sector perform” rating, implying roughly 12.7% upside vs. the current price — a meaningful upward revision that can lend support to the share price. Article Title
• Positive Sentiment: Canaccord Genuity raised its target to C$85.50 and maintained a “hold” rating, representing ~4.1% upside — another incremental boost to analyst-driven demand. Article Title
• Neutral Sentiment: Canadian Imperial Bank of Commerce nudged its target to C$83.00 with a “tender” rating, only ~1.1% above the current price — a marginal move unlikely to drive large flows. Article Title
• Negative Sentiment: Raymond James raised its target to C$80.00 but keeps a “market perform” rating, which sits below the current price (~2.6% downside) and could weigh on sentiment among more cautious investors. Article Title Ticker Report
• Negative Sentiment: Operationally, Teck warned of cost pressure in Chile tied to a fuel squeeze — higher operating costs or production disruptions in copper/other metals regions could compress margins and cap upside. Article Title

About Teck Resources

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.