CIBC Raises Teck Resources (TSE:TECK.B) Price Target to C$61.00

Teck Resources (TSE:TECK.B) had its price target boosted by analysts at CIBC from C$57.00 to C$61.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. CIBC’s price objective indicates a potential upside of 2.54% from the company’s current price.

Several other equities analysts have also commented on TECK.B. Citigroup upped their price objective on shares of Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. Stifel Nicolaus raised their price target on Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, October 21st. Raymond James Financial dropped their price objective on Teck Resources from C$64.00 to C$63.00 in a research note on Friday, October 10th. Finally, TD Securities increased their target price on Teck Resources from C$63.00 to C$70.00 in a research note on Tuesday, October 21st. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$63.77.

Teck Resources Trading Down 1.0%

TSE TECK.B opened at C$59.49 on Thursday. 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 stock has a market capitalization of C$29.04 billion, a P/E ratio of 23.89, a PEG ratio of -0.38 and a beta of 1.94. The firm’s 50-day moving average is C$58.99 and its two-hundred day moving average is C$53.33. Teck Resources has a 12 month low of C$40.23 and a 12 month high of C$67.77.

Teck Resources Company Profile

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.