Royal Bank of Canada Lowers Teck Resources (TSE:TECK.B) Price Target to C$85.00

Teck Resources (TSE:TECK.B) had its price target dropped by investment analysts at Royal Bank of Canada from C$88.00 to C$85.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 39.87% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Bank of America decreased their target price on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. CIBC set a C$80.00 price objective on shares of Teck Resources and gave the stock an “outperform” rating in a research report on Friday, July 12th. Jefferies Financial Group increased their price objective on shares of Teck Resources from C$80.00 to C$85.00 in a research report on Monday, July 8th. TD Securities lifted their target price on Teck Resources from C$78.00 to C$80.00 in a research report on Tuesday, July 16th. Finally, Eight Capital boosted their price target on shares of Teck Resources from C$72.00 to C$75.00 in a report on Thursday, July 11th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$76.40.

Teck Resources Stock Up 0.9 %

Shares of TSE TECK.B opened at C$60.77 on Tuesday. The company has a market cap of C$31.11 billion, a price-to-earnings ratio of 21.78, a PEG ratio of -0.38 and a beta of 1.36. 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 stock has a 50-day moving average price of C$64.53 and a two-hundred day moving average price of C$64.51. Teck Resources has a 12 month low of C$47.47 and a 12 month high of C$74.37.

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.