Teck Resources (TSE:TECK.B) Given New C$67.00 Price Target at Royal Bank Of Canada

Key Points

• Teck Resources' price target has been cut by the Royal Bank of Canada from C$82.00 to C$67.00, indicating a potential upside of 46.87% from its current stock price.
• Other analysts have also lowered their targets, with Citigroup reducing theirs from C$68.00 to C$55.00 and Desjardins downgrading from a "buy" to a "hold" rating.
• The stock traded down C$2.32 on Friday, reaching a price of C$45.62, with a market cap of C$23.36 billion.
• Teck Resources operates in multiple regions including Canada and Peru, primarily focusing on metallurgical coal and ranked as the world's second-largest exporter of it.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective dropped by research analysts at Royal Bank Of Canada from C$82.00 to C$67.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank Of Canada's target price points to a potential upside of 46.87% from the stock's current price.

Several other research analysts also recently weighed in on TECK.B. Citigroup dropped their target price on shares of Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a report on Monday, June 9th. UBS Group reduced their target price on shares of Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Desjardins lowered shares of Teck Resources from a "buy" rating to a "hold" rating and decreased their target price for the company from C$72.00 to C$58.00 in a report on Friday, July 18th. TD Securities cut their target price on shares of Teck Resources from C$73.00 to C$62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, National Bankshares increased their price target on shares of Teck Resources from C$65.00 to C$66.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$64.11.

Teck Resources Stock Performance

Shares of TECK.B traded down C$2.32 during trading hours on Friday, hitting C$45.62. The company's stock had a trading volume of 2,118,313 shares, compared to its average volume of 1,399,233. The company has a market cap of C$23.36 billion, a price-to-earnings ratio of 16.35, a PEG ratio of -0.38 and a beta of 1.37. 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 has a 52-week low of C$40.23 and a 52-week high of C$72.92. The business has a 50 day simple moving average of C$52.42 and a two-hundred day simple moving average of C$54.29.

About Teck Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.