CIBC Reiterates C$80.00 Price Target for Teck Resources (TSE:TECK.B)

CIBC set a C$80.00 price target on Teck Resources (TSE:TECK.B) in a report released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on the stock. Scotiabank increased their target price on shares of Teck Resources from C$75.00 to C$83.00 and gave the company an outperform rating in a research report on Thursday, May 30th. Bank of America decreased their target price on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. Jefferies Financial Group raised their price objective on shares of Teck Resources from C$80.00 to C$85.00 in a research report on Monday, July 8th. Raymond James raised their price objective on shares of Teck Resources from C$70.00 to C$71.00 and gave the stock an outperform rating in a research report on Monday, April 29th. Finally, Canaccord Genuity Group raised their price objective on shares of Teck Resources from C$75.00 to C$80.00 in a research report on Monday, May 13th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teck Resources presently has an average rating of Buy and an average price target of C$76.17.

Teck Resources Stock Performance

TSE:TECK.B opened at C$68.39 on Friday. The company has a market capitalization of C$34.97 billion, a PE ratio of 22.35, a P/E/G ratio of -0.38 and a beta of 1.42. The company has a 50 day simple moving average of C$68.29 and a two-hundred day simple moving average of C$61.26. The company has a debt-to-equity ratio of 37.28, a quick ratio of 0.97 and a current ratio of 1.49. Teck Resources has a fifty-two week low of C$47.47 and a fifty-two week high of C$74.37.

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.