Teck Resources (TSE:TECK.B) Price Target Cut to C$85.00 by Analysts at Royal Bank of Canada

Teck Resources (TSE:TECK.B - Get Free Report) had its target price reduced by analysts at Royal Bank of Canada from C$88.00 to C$85.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price target would suggest a potential upside of 41.17% from the company's current price.

Several other research firms have also commented on TECK.B. Raymond James cut their price target on shares of Teck Resources from C$71.00 to C$70.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on Teck Resources from C$76.00 to C$74.00 in a research report on Thursday, July 25th. Bank of America lowered their target price on Teck Resources from C$88.00 to C$87.00 in a research note on Friday, July 5th. Scotiabank dropped their price target on Teck Resources from C$84.00 to C$78.00 in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their target price on Teck Resources from C$80.00 to C$85.00 in a report on Monday, July 8th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teck Resources presently has an average rating of "Buy" and an average price target of C$76.40.

Teck Resources Price Performance

Shares of TSE:TECK.B traded up C$0.23 during midday trading on Tuesday, hitting C$60.21. The company's stock had a trading volume of 2,296,128 shares, compared to its average volume of 1,105,927. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The business's 50 day simple moving average is C$64.64 and its 200 day simple moving average is C$64.46. Teck Resources has a 12-month low of C$47.47 and a 12-month high of C$74.37. The company has a market cap of C$30.83 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of -0.38 and a beta of 1.36.

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.