Teck Resources (TSE:TECK.B) Price Target Cut to C$87.00

Teck Resources (TSE:TECK.B) had its price target reduced by equities research analysts at Bank of America from C$88.00 to C$87.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Bank of America‘s target price would indicate a potential upside of 25.18% from the stock’s previous close.

TECK.B has been the subject of a number of other research reports. Canaccord Genuity Group lifted their target price on Teck Resources from C$75.00 to C$80.00 in a report on Monday, May 13th. Eight Capital lifted their target price on Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Jefferies Financial Group lifted their target price on Teck Resources from C$75.00 to C$80.00 and gave the stock a “buy” rating in a report on Friday, April 12th. National Bankshares boosted their price objective on Teck Resources from C$77.50 to C$82.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Teck Resources from C$70.00 to C$72.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$74.55.

Teck Resources Price Performance

TSE TECK.B traded up C$0.55 during trading on Friday, hitting C$69.50. 985,434 shares of the stock traded hands, compared to its average volume of 1,093,433. The company has a market capitalization of C$35.54 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of -0.38 and a beta of 1.42. The firm has a 50-day simple moving average of C$68.31 and a 200-day simple moving average of C$60.62. The company has a quick ratio of 0.97, a current ratio of 1.49 and a debt-to-equity ratio of 37.28. Teck Resources has a 12-month low of C$47.47 and a 12-month high of C$74.37.

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.