CIBC Raises Teck Resources (TSE:TECK.B) Price Target to C$33.00


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Teck Resources (TSE:TECK.B) had its target price boosted by equities research analysts at CIBC from C$32.00 to C$33.00 in a research note issued on Monday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 19.57% from the company’s current price.

TECK.B has been the subject of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a C$35.00 price objective on shares of Teck Resources in a report on Thursday, April 29th. The Goldman Sachs Group increased their target price on shares of Teck Resources from C$25.00 to C$28.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 14th. Scotiabank increased their target price on shares of Teck Resources from C$30.00 to C$31.00 in a research note on Monday, April 12th. TD Securities increased their target price on shares of Teck Resources from C$30.00 to C$34.00 and gave the stock an “action list buy” rating in a research note on Friday, February 19th. Finally, Citigroup increased their target price on shares of Teck Resources from C$26.00 to C$34.00 and gave the stock a “neutral” rating in a research note on Monday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$30.11.

TSE TECK.B opened at C$27.60 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 39.54. The company has a market capitalization of C$14.67 billion and a P/E ratio of -58.97. Teck Resources has a 12-month low of C$11.01 and a 12-month high of C$29.81. The firm has a 50-day moving average price of C$25.84 and a two-hundred day moving average price of C$23.72.

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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