Teck Resources (TSE:TECK.B) Given New C$82.00 Price Target at Royal Bank of Canada

Teck Resources (TSE:TECK.B) had its target price cut by Royal Bank of Canada from C$84.00 to C$82.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on TECK.B. Desjardins reduced their price objective on Teck Resources from C$74.00 to C$72.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from C$72.00 to C$58.00 in a research report on Thursday, April 10th. UBS Group cut their price target on shares of Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Raymond James upped their price target on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group lowered their price objective on Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of C$71.94.

Teck Resources Trading Down 1.6 %

Shares of Teck Resources stock opened at C$49.36 on Friday. The firm has a market capitalization of C$25.27 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The firm’s 50 day moving average is C$53.42 and its 200 day moving average is C$59.81. Teck Resources has a 1 year low of C$40.23 and a 1 year high of C$74.37.

About Teck Resources

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.