Teck Resources (TSE:TECK.B) Given New C$78.00 Price Target at CIBC

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

A number of other equities analysts have also recently issued reports on TECK.B. TD Securities upped their price objective on shares of Teck Resources from C$78.00 to C$80.00 in a research report on Tuesday, July 16th. Eight Capital lifted their price target on shares of Teck Resources from C$72.00 to C$75.00 in a report on Thursday, July 11th. Bank of America cut their price target on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. JPMorgan Chase & Co. cut their target price on Teck Resources from C$78.00 to C$76.00 in a research report on Friday. Finally, Scotiabank dropped their target price on shares of Teck Resources from C$79.00 to C$74.00 in a research report on Friday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of C$76.63.

Teck Resources Price Performance

TECK.B traded up C$0.76 on Friday, hitting C$65.61. 636,457 shares of the stock were exchanged, compared to its average volume of 1,183,275. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a 12 month low of C$47.47 and a 12 month high of C$74.37. The firm has a market capitalization of C$33.59 billion, a price-to-earnings ratio of 23.62, a PEG ratio of -0.38 and a beta of 1.37. The business has a 50-day moving average of C$66.34 and a two-hundred day moving average of 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.