Teck Resources (TSE:TECK.B) had its price objective raised by analysts at TD Securities from C$47.00 to C$56.00 in a note issued to investors on Friday, Price Targets.com reports. The brokerage currently has an “action list buy” rating on the stock. TD Securities’ price target points to a potential upside of 32.64% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on TECK.B. Scotiabank upped their price objective on Teck Resources from C$43.00 to C$44.00 in a research note on Tuesday, October 12th. JPMorgan Chase & Co. upped their price objective on Teck Resources from C$39.00 to C$40.00 and gave the stock an “overweight” rating in a research note on Friday, December 10th. National Bankshares upped their price objective on Teck Resources from C$43.00 to C$48.50 in a research note on Friday, October 22nd. Canaccord Genuity Group upgraded Teck Resources from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$36.00 to C$48.00 in a research note on Monday. Finally, CIBC upped their price objective on Teck Resources from C$40.00 to C$42.00 and gave the stock a “neutral” rating in a research note on Monday, December 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$42.93.
TSE:TECK.B traded up C$0.11 during trading hours on Friday, reaching C$42.22. 957,168 shares of the stock were exchanged, compared to its average volume of 1,756,331. Teck Resources has a twelve month low of C$21.86 and a twelve month high of C$43.34. The company has a debt-to-equity ratio of 40.95, a current ratio of 1.41 and a quick ratio of 0.65. The firm has a 50 day moving average of C$35.45 and a 200 day moving average of C$31.72. The stock has a market cap of C$22.51 billion and a PE ratio of 24.65.
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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