Teck Resources (TSE:TECK.B) Price Target Raised to C$83.00 at Canadian Imperial Bank of Commerce

Teck Resources (TSE:TECK.B) had its target price boosted by research analysts at Canadian Imperial Bank of Commerce from C$79.00 to C$83.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “tender” rating on the stock. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 0.56% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Desjardins raised their target price on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Scotiabank raised their target price on shares of Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. TD Securities raised their target price on shares of Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. National Bank Financial raised their target price on shares of Teck Resources from C$90.00 to C$92.50 and gave the company a “sector perform” rating in a research note on Friday. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from C$76.00 to C$104.00 in a research note on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$80.25.

Teck Resources Stock Down 0.9%

Shares of TECK.B traded down C$0.77 during mid-day trading on Friday, hitting C$82.54. 410,928 shares of the company’s stock were exchanged, compared to its average volume of 1,185,303. The company has a market cap of C$40.41 billion, a PE ratio of 29.17, a P/E/G ratio of -0.38 and a beta of 1.82. Teck Resources has a 52 week low of C$42.95 and a 52 week high of C$86.48. The company has a 50-day simple moving average of C$74.94 and a 200 day simple moving average of C$68.16. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

Teck Resources Company Profile

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. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.