Teck Resources (TSE:TECK.B) Price Target Cut to C$47.00 by Analysts at Royal Bank of Canada

Teck Resources (TSE:TECK.B) had its price objective lowered by Royal Bank of Canada from C$48.00 to C$47.00 in a research note published on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

TECK.B has been the subject of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. National Bank Financial lowered shares of Detour Gold to a hold rating in a report on Friday, June 28th. CSFB raised their target price on shares of Teck Resources from C$38.00 to C$42.00 in a report on Thursday, April 18th. Raymond James reissued an outperform rating and issued a $93.00 target price (up from $83.00) on shares of Republic Services in a report on Friday. Finally, BMO Capital Markets began coverage on shares of Encompass Health in a report on Thursday, June 27th. They issued an outperform rating and a $72.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of C$41.46.

Shares of TECK.B stock traded down C$0.35 on Friday, reaching C$28.05. The company’s stock had a trading volume of 1,713,500 shares, compared to its average volume of 1,990,000. The stock’s fifty day simple moving average is C$29.17. Teck Resources has a 1 year low of C$23.90 and a 1 year high of C$34.49. The company has a debt-to-equity ratio of 27.70, a current ratio of 2.95 and a quick ratio of 1.95. The stock has a market capitalization of $16.77 billion and a P/E ratio of 5.46.

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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