Teck Resources (TSE:TECK.B) Price Target Cut to C$85.00

Teck Resources (TSE:TECK.B) had its price objective lowered by Royal Bank of Canada from C$88.00 to C$85.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Scotiabank reduced their price target on Teck Resources from C$84.00 to C$78.00 in a report on Monday, August 19th. Bank of America dropped their price target on Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from C$76.00 to C$74.00 in a research report on Thursday, July 25th. BMO Capital Markets decreased their price target on shares of Teck Resources from C$80.00 to C$77.00 in a research note on Thursday, July 25th. Finally, Raymond James dropped their price objective on shares of Teck Resources from C$71.00 to C$70.00 in a research note on Thursday, July 25th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teck Resources has a consensus rating of Buy and an average price target of C$76.40.

Teck Resources Price Performance

Shares of Teck Resources stock opened at C$60.21 on Tuesday. The company has a fifty day moving average of C$64.64 and a 200-day moving average of C$64.46. Teck Resources has a 52-week low of C$47.47 and a 52-week high of C$74.37. The stock has a market capitalization of C$30.83 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of -0.38 and a beta of 1.36. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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.