Teck Resources (TSE:TECK.B) had its price objective upped by research analysts at Scotiabank from C$30.00 to C$31.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 25.51% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. CSFB upped their price target on shares of Teck Resources from C$31.00 to C$34.00 in a report on Monday, February 22nd. Canaccord Genuity upped their target price on Teck Resources from C$25.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Friday, February 19th. BMO Capital Markets raised their target price on Teck Resources from C$27.00 to C$31.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 30th. Royal Bank of Canada decreased their price target on Teck Resources from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Friday, February 19th. Finally, Eight Capital raised their price objective on shares of Teck Resources to C$35.00 and gave the stock an “outperform” rating in a research note on Friday, January 22nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$28.91.
Teck Resources stock traded down C$0.12 during trading hours on Monday, hitting C$24.70. 622,332 shares of the stock traded hands, compared to its average volume of 2,288,353. The firm’s 50 day moving average price is C$26.29 and its 200-day moving average price is C$22.69. The company has a debt-to-equity ratio of 38.06, a current ratio of 1.23 and a quick ratio of 0.55. The stock has a market capitalization of C$13.13 billion and a price-to-earnings ratio of -15.27. Teck Resources has a 1 year low of C$9.66 and a 1 year high of C$29.81.
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.
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