Morgan Stanley reiterated their overweight rating on shares of Teck Resources (TSE:TECK.B – Get Rating) in a research report released on Friday, Stock Target Advisor reports. The firm currently has a C$51.00 target price on the stock.
A number of other research analysts also recently issued reports on TECK.B. Citigroup reduced their price target on shares of Teck Resources from C$58.00 to C$45.00 and set a buy rating on the stock in a research report on Thursday, July 14th. Barclays reduced their price target on shares of Teck Resources from C$42.00 to C$40.00 in a research report on Thursday, July 28th. Credit Suisse Group reduced their price target on shares of Teck Resources to C$63.00 and set a buy rating on the stock in a research report on Tuesday, July 26th. Stifel Nicolaus reduced their price target on shares of Teck Resources from C$62.00 to C$59.00 in a research report on Tuesday, August 16th. Finally, Royal Bank of Canada reduced their price target on shares of Teck Resources from C$67.00 to C$60.00 and set an outperform rating on the stock in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned 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 target price of C$51.70.
Teck Resources Trading Down 0.6 %
TSE TECK.B opened at C$42.57 on Friday. Teck Resources has a 12 month low of C$29.21 and a 12 month high of C$57.50. The company has a debt-to-equity ratio of 34.88, a current ratio of 1.82 and a quick ratio of 1.13. The company has a market capitalization of C$22.54 billion and a price-to-earnings ratio of 4.17. The company’s fifty day moving average price is C$40.38 and its two-hundred day moving average price is C$46.45.
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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