Teck Resources (TSE:TECK.B) PT Set at C$80.00 by CIBC

CIBC set a C$80.00 price target on Teck Resources (TSE:TECK.B) in a research note released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Teck Resources from C$70.00 to C$72.00 and gave the company an overweight rating in a research report on Friday, April 26th. Canaccord Genuity Group raised their target price on shares of Teck Resources from C$75.00 to C$80.00 in a research report on Monday, May 13th. Jefferies Financial Group upped their target price on Teck Resources from C$80.00 to C$85.00 in a report on Monday, July 8th. Eight Capital boosted their price target on Teck Resources from C$72.00 to C$75.00 in a research report on Thursday. Finally, Bank of America dropped their price target on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of C$75.67.

Teck Resources Price Performance

Shares of TECK.B opened at C$69.23 on Friday. The stock has a 50 day simple moving average of C$68.28 and a 200 day simple moving average of C$61.18. Teck Resources has a 52-week low of C$47.47 and a 52-week high of C$74.37. The company has a debt-to-equity ratio of 37.28, a quick ratio of 0.97 and a current ratio of 1.49. The firm has a market capitalization of C$35.40 billion, a PE ratio of 22.62, a P/E/G ratio of -0.38 and a beta of 1.42.

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.