Royal Bank of Canada Lowers Teck Resources (TSE:TECK.B) Price Target to C$24.00

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Teck Resources (TSE:TECK.B) had its price target reduced by equities research analysts at Royal Bank of Canada from C$28.00 to C$24.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 126.63% from the stock’s previous close.

A number of other research firms have also recently commented on TECK.B. BMO Capital Markets decreased their price objective on Teck Resources from C$34.00 to C$31.00 in a report on Tuesday, February 11th. National Bank Financial decreased their price objective on Teck Resources from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities decreased their price objective on Teck Resources from C$29.00 to C$27.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from C$25.00 to C$27.00 in a report on Monday, December 16th. Finally, Raymond James decreased their price objective on Teck Resources from C$31.00 to C$27.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$28.71.

TECK.B opened at C$10.59 on Wednesday. Teck Resources has a one year low of C$8.15 and a one year high of C$34.31. The stock has a market capitalization of $5.95 billion and a PE ratio of -9.80. The business’s 50 day moving average price is C$14.23 and its 200 day moving average price is C$19.67. The company has a debt-to-equity ratio of 26.03, a quick ratio of 0.79 and a current ratio of 1.62.

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.

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

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