Raymond James Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B - Free Report) had its price objective increased by Raymond James from C$70.00 to C$75.00 in a research report report published on Thursday,BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. Jefferies Financial Group reduced their price objective on Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Citigroup reduced their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Canaccord Genuity Group lowered their target price on Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Finally, Scotiabank boosted their price objective on Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$76.29.

Teck Resources Price Performance

Shares of TSE:TECK.B traded down C$1.00 during trading on Thursday, reaching C$58.37. The company had a trading volume of 933,205 shares, compared to its average volume of 953,405. Teck Resources has a 12 month low of C$49.45 and a 12 month high of C$74.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The stock has a market capitalization of C$29.89 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a fifty day moving average of C$61.45 and a two-hundred day moving average of C$64.20.

About Teck Resources

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world's second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.