Teck Resources (TSE:TECK.B) Price Target Lowered to C$31.50 at National Bank Financial

Teck Resources (TSE:TECK.B) had its target price reduced by National Bank Financial from C$34.50 to C$31.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. CIBC cut their target price on Teck Resources from C$41.00 to C$39.00 in a report on Friday, September 6th. Royal Bank of Canada cut their target price on Teck Resources from C$48.00 to C$47.00 and set an outperform rating on the stock in a report on Friday, July 26th. BMO Capital Markets cut their target price on Teck Resources from C$48.00 to C$42.00 in a report on Friday, July 26th. TD Securities lowered Teck Resources from an action list buy rating to a buy rating and lowered their price objective for the stock from C$44.00 to C$38.00 in a research report on Monday, July 22nd. Finally, Raymond James lowered their price objective on Teck Resources from C$45.00 to C$43.00 and set an outperform rating for the company in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of C$40.79.

TECK.B traded up C$0.25 during midday trading on Thursday, hitting C$25.32. 894,853 shares of the company were exchanged, compared to its average volume of 1,990,000. The firm has a market capitalization of $16.77 billion and a P/E ratio of 5.66. Teck Resources has a 1-year low of C$21.50 and a 1-year high of C$34.31. The firm’s 50 day moving average price is C$23.67 and its 200-day moving average price is C$28.26. The company has a quick ratio of 1.46, a current ratio of 2.47 and a debt-to-equity ratio of 24.04.

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.

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Analyst Recommendations for Teck Resources (TSE:TECK.B)

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