Teck Resources Ltd (TCK.B) Upgraded to Outperform at RBC Capital Markets
Teck Resources Ltd (TSE:TCK.B) was upgraded by investment analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The brokerage presently has a C$30.00 target price on the stock, up from their previous target price of C$23.00.
Several other research firms also recently weighed in on TCK.B. Dundee Securities lifted their target price on Teck Resources from C$21.00 to C$31.50 and gave the company a “buy” rating in a research report on Friday. Canaccord Genuity lifted their target price on Teck Resources from C$16.50 to C$19.50 in a research report on Friday, July 29th. Scotiabank lifted their target price on Teck Resources from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Monday, June 27th. Berenberg Bank set a C$13.00 target price on Teck Resources and gave the company a “sell” rating in a research report on Friday, August 19th. Finally, Deutsche Bank AG raised Teck Resources to a “buy” rating in a research report on Friday, October 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of C$22.17.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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