Eight Capital Increases Teck Resources (TSE:TECK.B) Price Target to C$72.00

Teck Resources (TSE:TECK.B) had its price objective raised by equities researchers at Eight Capital from C$65.00 to C$72.00 in a research note issued to investors on Monday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Eight Capital’s target price points to a potential upside of 15.76% from the stock’s previous close.

Several other research firms have also commented on TECK.B. Bank of America boosted their price objective on shares of Teck Resources from C$67.00 to C$88.00 in a research note on Tuesday, April 9th. Raymond James cut their price target on shares of Teck Resources from C$65.00 to C$64.00 in a research note on Friday, March 1st. Scotiabank upped their price target on shares of Teck Resources from C$69.00 to C$71.00 and gave the company an “outperform” rating in a research note on Monday, January 15th. Jefferies Financial Group upped their price target on shares of Teck Resources from C$75.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Teck Resources from C$59.00 to C$75.00 in a report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$71.86.

Teck Resources Price Performance

Teck Resources stock opened at C$62.20 on Monday. The stock has a market cap of C$31.75 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of -0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 39.21, a current ratio of 1.10 and a quick ratio of 0.97. Teck Resources has a 1 year low of C$47.47 and a 1 year high of C$69.41. The firm has a 50-day moving average of C$58.85 and a two-hundred day moving average of C$54.55.

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.