Teck Resources Ltd (TCK.B) Upgraded by Barclays PLC to Overweight
Barclays PLC upgraded shares of Teck Resources Ltd (TSE:TCK.B) (NYSE:TCK) from an equal weight rating to an overweight rating in a report released on Thursday. The firm currently has C$36.00 target price on the stock, up from their previous target price of C$22.00.
TCK.B has been the subject of a number of other reports. CSFB raised their price objective on shares of Teck Resources from C$23.00 to C$30.00 and gave the stock an outperform rating in a report on Monday, October 17th. TD Securities boosted their target price on shares of Teck Resources from C$33.00 to C$35.00 and gave the stock a buy rating in a research note on Friday, October 28th. Canaccord Genuity boosted their target price on shares of Teck Resources from C$19.50 to C$28.50 and gave the stock a hold rating in a research note on Monday, October 24th. Scotiabank reaffirmed a sector perform rating and issued a C$27.00 target price on shares of Teck Resources in a research note on Tuesday, October 11th. Finally, Berenberg Bank boosted their target price on shares of Teck Resources from C$13.00 to C$25.50 and gave the stock a sell rating in a research note on Monday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of C$26.03.
In related news, insider Tim Watson sold 30,666 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of C$29.46, for a total transaction of C$903,420.36. Also, insider Ray Reipas sold 30,000 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of C$28.87, for a total value of C$866,100.00.
About Teck Resources
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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