Teck Resources (TSE:TECK.B) Price Target Increased to C$39.00 by Analysts at CIBC

Teck Resources (TSE:TECK.B) had its price objective hoisted by CIBC from C$37.00 to C$39.00 in a report issued on Thursday, BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. National Bank Financial raised their price target on shares of Teck Resources from C$27.00 to C$27.50 and gave the stock an outperform rating in a report on Wednesday. CSFB reduced their target price on shares of Teck Resources from C$35.00 to C$33.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$48.00 to C$37.00 in a research note on Thursday, October 10th. BMO Capital Markets reduced their target price on shares of Teck Resources from C$37.00 to C$35.00 in a research note on Tuesday, December 17th. Finally, Raymond James set a C$33.00 target price on shares of Teck Resources and gave the company an outperform rating in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Teck Resources presently has a consensus rating of Buy and an average price target of C$34.38.

Shares of TECK.B stock traded down C$0.96 during trading on Thursday, hitting C$19.00. 2,853,991 shares of the company were exchanged, compared to its average volume of 1,990,000. The company has a debt-to-equity ratio of 24.09, a quick ratio of 1.16 and a current ratio of 2.09. The firm has a market capitalization of $10.38 billion and a price-to-earnings ratio of 6.53. The business’s 50-day simple moving average is C$21.68 and its 200 day simple moving average is C$22.83. Teck Resources has a twelve month low of C$19.34 and a twelve month high of C$34.31.

About Teck Resources

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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