Teck Resources (TSE:TECK.B) PT Lowered to C$34.50

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Teck Resources (TSE:TECK.B) had its price target reduced by National Bank Financial from C$37.50 to C$34.50 in a report issued on Monday, August 12th, Stock Target Advisor reports. National Bank Financial currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on TECK.B. Raymond James lowered their price target on Teck Resources from C$45.00 to C$43.00 and set an outperform rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. set a C$48.00 price target on Teck Resources in a research report on Friday, July 26th. Royal Bank of Canada cut their price objective on Teck Resources from C$48.00 to C$47.00 and set an outperform rating for the company in a report on Friday, July 26th. BMO Capital Markets cut their price objective on Teck Resources from C$48.00 to C$42.00 in a report on Friday, July 26th. Finally, TD Securities downgraded Teck Resources from an action list buy rating to a buy rating and cut their price target for the company from C$44.00 to C$38.00 in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of C$41.21.

Teck Resources stock traded up C$0.33 on Monday, hitting C$22.79. The company’s stock had a trading volume of 1,427,906 shares, compared to its average volume of 1,990,000. The company has a fifty day moving average price of C$24.44 and a 200-day moving average price of C$28.47. The firm has a market cap of $16.77 billion and a P/E ratio of 5.10. The company has a quick ratio of 1.46, a current ratio of 2.47 and a debt-to-equity ratio of 24.04. Teck Resources has a one year low of C$21.50 and a one year 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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