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. It also produces molybdenum, gold, silver, germanium, indium, mercury, and cadmium, as well as chemicals, industrial products, and fertilizers. In addition, the company holds interest in oil sands projects and other interests in the Athabasca region of Alberta; and owns interest in exploration and development projects in Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1906 and is headquartered in Vancouver, Canada.
Analysts Set New Price Targets
Several equities analysts recently issued reports on TECK.B shares. TD Securities decreased their target price on Teck Resources from C$57.00 to C$55.00 and set an "action list buy" rating on the stock in a research note on Thursday, July 28th. B. Riley reissued a "buy" rating and issued a C$58.00 price target on shares of Teck Resources in a report on Thursday, April 28th. JPMorgan Chase & Co. dropped their price target on Teck Resources from C$60.00 to C$43.00 in a research report on Friday, July 15th. CSFB lowered their price objective on Teck Resources from C$68.00 to C$63.00 in a research report on Tuesday, July 26th. Finally, Citigroup reduced their price objective on Teck Resources from C$58.00 to C$45.00 and set a "buy" rating on the stock in a research note on Thursday, July 14th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$51.41.
Teck Resources Trading Up 3.2 %
TECK.B Stock traded up C$1.27 during trading on Wednesday, hitting C$41.35. The company had a trading volume of 1,993,445 shares, compared to its average volume of 2,152,685. The company has a quick ratio of 1.13, a current ratio of 1.82 and a debt-to-equity ratio of 34.88. The firm has a 50-day moving average price of C$41.62 and a 200-day moving average price of C$46.31. Teck Resources has a 12 month low of C$24.84 and a 12 month high of C$57.50. The stock has a market cap of C$21.89 billion and a price-to-earnings ratio of 4.05.