JPMorgan Chase & Co. Raises Teck Resources (TSE:TECK.B) Price Target to C$72.00

Teck Resources (TSE:TECK.B) had its target price raised by analysts at JPMorgan Chase & Co. from C$70.00 to C$72.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.65% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Eight Capital lifted their price target on Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a research note on Monday. Scotiabank lifted their price objective on Teck Resources from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a research report on Monday, January 15th. Raymond James increased their target price on Teck Resources from C$64.00 to C$70.00 and gave the company an “outperform” rating in a report on Tuesday. B. Riley cut their price target on Teck Resources from C$72.00 to C$59.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Finally, National Bankshares increased their price objective on Teck Resources from C$66.00 to C$70.00 in a research note on Friday, February 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$72.50.

Teck Resources Price Performance

Shares of TSE:TECK.B traded up C$1.15 on Friday, reaching C$68.80. 738,723 shares of the company were exchanged, compared to its average volume of 1,082,232. The company has a current ratio of 1.10, a quick ratio of 0.97 and a debt-to-equity ratio of 39.21. Teck Resources has a 1-year low of C$47.47 and a 1-year high of C$69.59. The company has a 50-day moving average of C$59.39 and a 200-day moving average of C$54.69. The firm has a market cap of C$35.12 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of -0.38 and a beta of 1.44.

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.