Teck Resources Ltd (TCK.B) Given New C$31.00 Price Target at CIBC
Teck Resources Ltd (TSE:TCK.B) had its price objective upped by CIBC from C$28.00 to C$31.00 in a research note issued to investors on Wednesday morning. CIBC currently has an outperform rating on the stock.
Several other brokerages also recently commented on TCK.B. Paradigm Capital set a C$23.75 target price on Teck Resources and gave the company a buy rating in a report on Saturday, August 6th. Barclays PLC restated an underweight rating on shares of Teck Resources in a research note on Tuesday, August 2nd. TD Securities raised their price objective on Teck Resources from C$22.00 to C$24.00 and gave the company a buy rating in a research note on Sunday, July 31st. Scotiabank raised their price objective on Teck Resources from C$17.00 to C$18.00 and gave the company a sector perform rating in a research note on Friday, July 29th. Finally, Canaccord Genuity raised their price objective on Teck Resources from C$16.50 to C$19.50 in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of C$18.78.
About Teck Resources
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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