Teck Resources (TSE:TECK.B) PT Lowered to C$78.00 at CIBC

Teck Resources (TSE:TECK.B) had its price target cut by equities researchers at CIBC from C$80.00 to C$78.00 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 18.88% from the company’s current price.

A number of other brokerages have also recently weighed in on TECK.B. Eight Capital lifted their price objective on shares of Teck Resources from C$72.00 to C$75.00 in a research note on Thursday, July 11th. TD Securities upped their price objective on shares of Teck Resources from C$78.00 to C$80.00 in a research note on Tuesday, July 16th. Bank of America dropped their price target on shares of Teck Resources from C$88.00 to C$87.00 in a research note on Friday, July 5th. Scotiabank reduced their price objective on Teck Resources from C$79.00 to C$74.00 in a research report on Friday. Finally, National Bankshares upped their target price on Teck Resources from C$86.00 to C$90.00 in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus price target of C$76.63.

Teck Resources Stock Performance

Shares of TSE TECK.B traded up C$0.76 during midday trading on Friday, hitting C$65.61. 636,457 shares of the company’s stock were exchanged, compared to its average volume of 1,183,275. Teck Resources has a twelve month low of C$47.47 and a twelve month high of C$74.37. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The firm has a market cap of C$33.59 billion, a P/E ratio of 23.62, a PEG ratio of -0.38 and a beta of 1.37. The stock’s 50 day moving average price is C$66.34 and its 200-day moving average price is C$66.62.

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.