Teck Resources (TSE:TECK.B) Price Target Cut to C$85.00 by Analysts at Royal Bank of Canada

Teck Resources (TSE:TECK.B) had its price objective cut by Royal Bank of Canada from C$88.00 to C$85.00 in a report issued on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on TECK.B. Canaccord Genuity Group dropped their price target on shares of Teck Resources from C$80.00 to C$76.00 in a research note on Monday, July 22nd. Bank of America reduced their target price on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. BMO Capital Markets lowered their price target on Teck Resources from C$80.00 to C$77.00 in a report on Thursday, July 25th. Eight Capital lifted their target price on Teck Resources from C$72.00 to C$75.00 in a research report on Thursday, July 11th. Finally, Raymond James dropped their price target on Teck Resources from C$71.00 to C$70.00 in a research report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teck Resources presently has a consensus rating of Buy and a consensus price target of C$76.40.

Teck Resources Price Performance

Shares of Teck Resources stock opened at C$62.95 on Tuesday. The firm has a market cap of C$32.23 billion, a PE ratio of 22.56, a PEG ratio of -0.38 and a beta of 1.36. The stock has a 50 day moving average of C$64.29 and a 200 day moving average of C$64.49. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 12 month low of C$47.47 and a 12 month high of C$74.37.

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.