Teck Resources (TSE:TECK.B) Stock Price Expected to Rise, Raymond James Analyst Says

Teck Resources (TSE:TECK.B) had its price target hoisted by Raymond James from C$74.00 to C$75.00 in a research note issued on Wednesday, BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 9.95% from the stock’s current price.

Other research analysts have also issued research reports about the company. TD Securities raised their price objective on Teck Resources from C$78.00 to C$80.00 in a report on Tuesday, July 16th. Canaccord Genuity Group dropped their price target on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. BMO Capital Markets reduced their price objective on Teck Resources from C$80.00 to C$77.00 in a research report on Thursday, July 25th. Royal Bank of Canada cut their target price on Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Finally, CIBC reduced their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of C$76.75.

Teck Resources Price Performance

TSE TECK.B traded up C$0.64 during trading hours on Wednesday, reaching C$68.21. The company’s stock had a trading volume of 1,045,766 shares, compared to its average volume of 1,177,352. The company’s 50-day moving average is C$66.32 and its two-hundred day moving average is C$66.63. Teck Resources has a 1-year low of C$47.47 and a 1-year high of C$74.37. The firm has a market capitalization of C$34.92 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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.