Teck Resources (TSE:TECK.B) PT Lowered to C$85.00 at Royal Bank of Canada

Teck Resources (TSE:TECK.B) had its target price decreased by equities researchers at Royal Bank of Canada from C$88.00 to C$85.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 41.69% from the stock’s previous close.

Several other research analysts have also recently issued reports on TECK.B. CIBC set a C$80.00 price target on Teck Resources and gave the stock an “outperform” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from C$76.00 to C$74.00 in a research note on Thursday, July 25th. Raymond James reduced their price target on shares of Teck Resources from C$71.00 to C$70.00 in a research note on Thursday, July 25th. BMO Capital Markets lowered their price objective on shares of Teck Resources from C$80.00 to C$77.00 in a research note on Thursday, July 25th. Finally, Jefferies Financial Group upped their price objective on Teck Resources from C$80.00 to C$85.00 in a report on Monday, July 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$76.40.

Teck Resources Stock Performance

TSE TECK.B traded up C$0.01 during trading hours on Tuesday, hitting C$59.99. The company had a trading volume of 613,348 shares, compared to its average volume of 1,096,295. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The firm has a market cap of C$30.71 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of -0.38 and a beta of 1.36. Teck Resources has a fifty-two week low of C$47.47 and a fifty-two week high of C$74.37. The business has a fifty day simple moving average of C$64.75 and a 200-day simple moving average of C$64.41.

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.