Canaccord Genuity Group Trims Teck Resources (TSE:TECK.B) Target Price to C$78.00

Teck Resources (TSE:TECK.B) had its target price cut by research analysts at Canaccord Genuity Group from C$80.00 to C$78.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 18.88% from the company’s previous close.

A number of other analysts also recently issued reports on TECK.B. TD Securities lifted their price objective on shares of Teck Resources from C$78.00 to C$80.00 in a report on Tuesday, July 16th. Citigroup increased their price objective on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price target on shares of Teck Resources from C$79.00 to C$74.00 in a research report on Friday. Eight Capital boosted their target price on shares of Teck Resources from C$72.00 to C$75.00 in a research report on Thursday, July 11th. Finally, National Bankshares upped their price objective on Teck Resources from C$86.00 to C$90.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$76.63.

Teck Resources Trading Up 1.2 %

TSE:TECK.B traded up C$0.76 during trading hours on Friday, hitting C$65.61. The stock had a trading volume of 636,457 shares, compared to its average volume of 1,183,275. The company has a market cap of C$33.59 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a one year low of C$47.47 and a one year high of C$74.37. 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 business’s 50 day moving average is C$66.34 and its 200-day moving average is C$66.62.

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.