Teck Resources (TSE:TECK.B) Given New C$58.00 Price Target at CIBC

Teck Resources (TSE:TECK.BGet Rating) had its target price lowered by CIBC from C$70.00 to C$58.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

A number of other research firms have also recently commented on TECK.B. TD Securities cut their target price on Teck Resources from C$57.00 to C$55.00 and set an action list buy rating on the stock in a research note on Thursday, July 28th. Stifel Nicolaus dropped their price objective on Teck Resources from C$68.00 to C$62.00 in a research report on Tuesday, July 19th. B. Riley reaffirmed a buy rating and set a C$58.00 price objective on shares of Teck Resources in a research report on Thursday, April 28th. Scotiabank dropped their price objective on Teck Resources from C$57.00 to C$54.00 in a research report on Thursday, July 28th. Finally, Eight Capital increased their price objective on Teck Resources from C$48.00 to C$60.00 and gave the company an outperform rating in a research report on Thursday, April 21st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Teck Resources has a consensus rating of Moderate Buy and an average price target of C$51.41.

Teck Resources Trading Down 4.1 %

TSE TECK.B opened at C$36.12 on Tuesday. Teck Resources has a 12 month low of C$24.84 and a 12 month high of C$57.50. The stock has a market cap of C$19.13 billion and a P/E ratio of 4.75. The stock’s fifty day moving average price is C$43.41 and its 200-day moving average price is C$46.48. The company has a current ratio of 1.92, a quick ratio of 1.19 and a debt-to-equity ratio of 37.83.

Teck Resources Company Profile

(Get Rating)

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.

Further Reading

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

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