Raymond James Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its target price upped by Raymond James from C$74.00 to C$75.00 in a report released on Wednesday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Royal Bank of Canada reduced their price objective on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Canaccord Genuity Group lowered their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Eight Capital increased their price target on Teck Resources from C$72.00 to C$75.00 in a research note on Thursday, July 11th. Finally, BMO Capital Markets lowered their price objective on Teck Resources from C$80.00 to C$77.00 in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus target price of C$76.75.

Teck Resources Stock Performance

TSE:TECK.B opened at C$67.78 on Wednesday. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a 50-day simple moving average of C$66.59 and a two-hundred day simple moving average of C$66.70. The firm has a market capitalization of C$34.70 billion, a PE ratio of 24.29, a P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a 52-week low of C$47.50 and a 52-week high of C$74.37.

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.