Raymond James Boosts Teck Resources (TSE:TECK.B) Price Target to C$70.00

Teck Resources (TSE:TECK.B) had its target price raised by Raymond James from C$64.00 to C$70.00 in a report issued on Tuesday, BayStreet.CA reports. Raymond James’ price target points to a potential upside of 12.85% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Eight Capital increased their price target on shares of Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group reduced their price target on Teck Resources from C$64.00 to C$63.00 in a report on Wednesday, January 17th. Scotiabank upped their price objective on Teck Resources from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, January 15th. National Bankshares increased their price objective on Teck Resources from C$66.00 to C$70.00 in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Teck Resources from C$59.00 to C$75.00 in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Buy” and an average price target of C$71.86.

Teck Resources Stock Performance

TSE:TECK.B traded down C$0.80 during mid-day trading on Tuesday, reaching C$62.03. 730,565 shares of the stock were exchanged, compared to its average volume of 1,062,789. The stock has a market capitalization of C$31.67 billion, a P/E ratio of 13.37, a P/E/G ratio of -0.38 and a beta of 1.44. Teck Resources has a 1 year low of C$47.47 and a 1 year high of C$69.41. The company has a 50 day simple moving average of C$58.61 and a 200-day simple moving average of C$54.50. The company has a quick ratio of 0.97, a current ratio of 1.10 and a debt-to-equity ratio of 39.21.

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.