Raymond James Increases Teck Resources (TSE:TECK.B) Price Target to C$39.00

Teck Resources (TSE:TECK.B) had its price target lifted by equities research analysts at Raymond James from C$37.00 to C$39.00 in a research report issued to clients and investors on Wednesday, Price Targets.com reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 24.44% from the stock’s previous close.

Several other equities analysts have also recently issued reports on TECK.B. Credit Suisse Group restated a “buy” rating on shares of Teck Resources in a research note on Monday, September 13th. National Bank Financial raised their target price on Teck Resources to C$43.00 and gave the company an “outperform” rating in a research note on Friday, September 10th. TD Securities raised their price target on Teck Resources from C$37.00 to C$40.00 and gave the company an “action list buy” rating in a report on Wednesday. National Bankshares raised their price target on Teck Resources from C$37.50 to C$43.00 and gave the company an “outperform” rating in a report on Friday, September 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a C$41.00 target price on shares of Teck Resources in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$37.06.

Shares of TECK.B opened at C$31.34 on Wednesday. The business’s fifty day moving average price is C$28.71 and its 200 day moving average price is C$27.94. Teck Resources has a 12-month low of C$15.81 and a 12-month high of C$34.25. The stock has a market capitalization of C$16.69 billion and a PE ratio of 103.09. The company has a debt-to-equity ratio of 42.01, a current ratio of 1.26 and a quick ratio of 0.48.

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.

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Analyst Recommendations for Teck Resources (TSE:TECK.B)

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