Teck Resources (TSE:TECK.B) Price Target Cut to C$56.50 by Analysts at CIBC

Teck Resources (TSE:TECK.BGet Rating) had its target price reduced by CIBC from C$58.00 to C$56.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

TECK.B has been the topic of several other reports. Raymond James increased their target price on shares of Teck Resources from C$56.00 to C$57.00 and gave the stock an outperform rating in a research note on Monday. Morgan Stanley reissued an overweight rating and issued a C$51.00 price objective on shares of Teck Resources in a report on Friday, September 16th. Barclays reduced their target price on Teck Resources from C$42.00 to C$40.00 in a research note on Thursday, July 28th. Royal Bank of Canada decreased their target price on 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. Finally, Credit Suisse Group cut their price target on shares of Teck Resources to C$63.00 and set a buy rating for the company in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$51.59.

Teck Resources Stock Performance

Shares of TSE TECK.B opened at C$42.38 on Thursday. Teck Resources has a 1 year low of C$30.34 and a 1 year high of C$57.50. The company has a debt-to-equity ratio of 34.88, a quick ratio of 1.13 and a current ratio of 1.82. The company’s fifty day moving average price is C$41.21 and its 200 day moving average price is C$46.20. The company has a market capitalization of C$22.11 billion and a PE ratio of 4.15.

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.

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