CSFB Cuts Teck Resources (TSE:TECK.B) Price Target to C$35.00

Teck Resources (TSE:TECK.B) had its price objective decreased by investment analysts at CSFB from C$43.00 to C$35.00 in a research note issued on Tuesday, BayStreet.CA reports. CSFB’s price target points to a potential upside of 61.81% from the company’s current price.

TECK.B has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from C$48.00 to C$37.00 in a research report on Thursday, October 10th. Royal Bank of Canada decreased their target price on shares of Teck Resources from C$48.00 to C$47.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. National Bank Financial decreased their target price on shares of Teck Resources from C$34.50 to C$31.50 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Barclays decreased their target price on shares of Teck Resources from C$35.00 to C$33.00 in a research report on Tuesday, October 15th. Finally, Raymond James decreased their target price on shares of Teck Resources from C$45.00 to C$43.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of C$36.65.

Shares of TSE:TECK.B traded up C$0.18 during midday trading on Tuesday, hitting C$21.63. 604,258 shares of the company’s stock were exchanged, compared to its average volume of 1,990,000. The company has a debt-to-equity ratio of 24.04, a current ratio of 2.47 and a quick ratio of 1.46. The stock has a 50 day moving average price of C$22.31 and a 200-day moving average price of C$26.71. The company has a market cap of $11.67 billion and a PE ratio of 4.84. Teck Resources has a 12 month low of C$19.34 and a 12 month high of C$34.31.

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.

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Analyst Recommendations for Teck Resources (TSE:TECK.B)

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