Teck Resources (TSE:TECK.B) Given a C$80.00 Price Target at CIBC

Teck Resources (TSE:TECK.B) received a C$80.00 price objective from stock analysts at CIBC in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 14.81% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group raised their price target on Teck Resources from C$75.00 to C$80.00 in a research report on Monday, May 13th. Raymond James raised their price target on Teck Resources from C$70.00 to C$71.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Scotiabank lifted their target price on Teck Resources from C$75.00 to C$83.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Bank of America decreased their target price on Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. Finally, National Bankshares lifted their target price on Teck Resources from C$77.50 to C$82.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teck Resources has a consensus rating of “Buy” and a consensus price target of C$75.67.

Teck Resources Stock Performance

Shares of TECK.B traded up C$2.18 during midday trading on Friday, reaching C$69.68. 776,581 shares of the stock were exchanged, compared to its average volume of 1,089,680. The company has a quick ratio of 0.97, a current ratio of 1.49 and a debt-to-equity ratio of 37.28. Teck Resources has a twelve month low of C$47.47 and a twelve month high of C$74.37. The company has a market cap of C$35.63 billion, a P/E ratio of 22.69, a PEG ratio of -0.38 and a beta of 1.42. The stock’s 50 day simple moving average is C$68.25 and its 200 day simple moving average is C$61.01.

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.