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

Teck Resources (TSE:TECK.B) has been given a C$80.00 price target by CIBC in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 14.81% from the company’s previous close.

TECK.B has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from C$70.00 to C$72.00 and gave the company an “overweight” rating in a report on Friday, April 26th. National Bankshares lifted their target price on shares of Teck Resources from C$77.50 to C$82.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group boosted their price objective on shares of Teck Resources from C$75.00 to C$80.00 in a report on Monday, May 13th. Bank of America decreased their price objective on shares of Teck Resources from C$88.00 to C$87.00 in a report on Friday, July 5th. Finally, Scotiabank boosted their price objective on shares of Teck Resources from C$75.00 to C$83.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$75.67.

Teck Resources Stock Performance

TECK.B traded up C$2.18 during trading on Friday, hitting 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 1-year low of C$47.47 and a 1-year high of C$74.37. The stock has a fifty day moving average price of C$68.25 and a two-hundred day moving average price of C$61.01. The firm has a market capitalization of C$35.63 billion, a P/E ratio of 22.69, a PEG ratio of -0.38 and a beta of 1.42.

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.