Teck Resources (TSE:TECK.B) Given New C$88.00 Price Target at Royal Bank of Canada

Teck Resources (TSE:TECK.B) had its target price reduced by Royal Bank of Canada from C$91.00 to C$88.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports.

A number of other brokerages have also recently weighed in on TECK.B. National Bankshares raised their price objective on Teck Resources from C$82.50 to C$86.00 and gave the company an outperform rating in a report on Monday, July 15th. CIBC set a C$80.00 target price on shares of Teck Resources and gave the stock an outperform rating in a research report on Friday, July 12th. Eight Capital raised their price objective on Teck Resources from C$72.00 to C$75.00 in a research note on Thursday, July 11th. Raymond James increased their target price on Teck Resources from C$70.00 to C$71.00 and gave the company an outperform rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from C$72.00 to C$76.00 in a research note on Thursday, July 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average target price of C$77.00.

Teck Resources Stock Performance

TSE:TECK.B opened at C$63.17 on Thursday. Teck Resources has a 52-week low of C$47.47 and a 52-week high of C$74.37. The firm has a market cap of C$32.30 billion, a price-to-earnings ratio of 20.64, a PEG ratio of -0.38 and a beta of 1.42. The company has a debt-to-equity ratio of 37.28, a quick ratio of 0.97 and a current ratio of 1.49. The business’s fifty day moving average is C$67.32 and its 200 day moving average is C$61.69.

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.