BMO Capital Markets Lowers Teck Resources (TSE:TECK.B) Price Target to C$37.00

Teck Resources (TSE:TECK.B) had its price objective reduced by equities research analysts at BMO Capital Markets from C$38.00 to C$37.00 in a report issued on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 71.61% from the company’s previous close.

Several other analysts have also recently commented on TECK.B. Barclays decreased their price objective on shares of Teck Resources from C$35.00 to C$33.00 in a research note on Tuesday, October 15th. Raymond James decreased their price objective on shares of Teck Resources from C$45.00 to C$43.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from C$48.00 to C$37.00 in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of Teck Resources from C$48.00 to C$47.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, CIBC decreased their price objective on shares of Teck Resources from C$41.00 to C$39.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Teck Resources has an average rating of “Buy” and a consensus target price of C$36.65.

TSE:TECK.B opened at C$21.56 on Monday. The company has a market cap of $11.89 billion and a PE ratio of 4.82. Teck Resources has a twelve month low of C$19.34 and a twelve month high of C$34.31. The company has a current ratio of 2.47, a quick ratio of 1.46 and a debt-to-equity ratio of 24.04. The company’s 50 day moving average is C$22.29 and its two-hundred day moving average is C$26.67.

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.

Further Reading: Calculating net profit and net profit margin ratio

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