Raymond James Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its target price raised by Raymond James from C$74.00 to C$75.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also recently commented on the company. Royal Bank of Canada dropped their price target on Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Citigroup boosted their target price on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Scotiabank upped their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday. Finally, Eight Capital raised their price objective on shares of Teck Resources from C$72.00 to C$75.00 in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$76.75.

Teck Resources Trading Down 4.3 %

Shares of TSE TECK.B opened at C$67.78 on Wednesday. Teck Resources has a 1 year low of C$47.50 and a 1 year high of C$74.37. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The firm has a 50-day moving average of C$66.59 and a 200 day moving average of C$66.70. The stock has a market cap of C$34.70 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37.

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.