Teck Resources Ltd (TCK.B) Receives C$25.21 Average Price Target from Analysts
Shares of Teck Resources Ltd (TSE:TCK.B) (NYSE:TCK) have been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$26.03.
A number of brokerages recently commented on TCK.B. Barclays PLC reduced their price target on Teck Resources from C$16.00 to C$8.00 in a report on Tuesday, July 26th. TD Securities increased their price target on Teck Resources from C$33.00 to C$35.00 and gave the company a “buy” rating in a report on Friday, October 28th. Deutsche Bank AG raised Teck Resources to a “buy” rating in a report on Friday, October 7th. Scotiabank reissued a “sector perform” rating and issued a C$27.00 price target on shares of Teck Resources in a report on Tuesday, October 11th. Finally, CIBC increased their price target on Teck Resources from C$23.00 to C$28.00 in a report on Wednesday, September 14th.
In related news, insider Tim Watson sold 30,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of C$29.46, for a total value of C$903,420.36. Also, insider Ray Reipas sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were 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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