Teck Resources (TSE:TECK.B) Given New C$56.00 Price Target at TD Securities

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 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.

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

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