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

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

Several other analysts also recently weighed in on TECK.B. Raymond James upped their price target on Teck Resources from C$73.00 to C$74.00 in a research note on Friday. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from C$78.00 to C$76.00 in a research note on Friday. Eight Capital raised their price target on shares of Teck Resources from C$72.00 to C$75.00 in a research report on Thursday, July 11th. TD Securities upped their price objective on Teck Resources from C$78.00 to C$80.00 in a research report on Tuesday, July 16th. Finally, Citigroup lifted their target price on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$76.63.

Teck Resources Stock Up 1.2 %

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

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.