Teck Resources Ltd (TCK.B) Upgraded to “Hold” at Berenberg Bank
Berenberg Bank upgraded shares of Teck Resources Ltd (TSE:TCK.B) (NYSE:TCK) from a sell rating to a hold rating in a research report report published on Wednesday. The firm currently has C$34.50 price target on the stock, up from their prior price target of C$25.50.
Other analysts have also issued reports about the stock. TD Securities restated a buy rating and issued a C$30.00 price objective on shares of Teck Resources in a report on Friday, September 30th. BMO Capital Markets boosted their price objective on shares of Teck Resources from C$16.00 to C$22.50 in a report on Thursday, September 29th. Royal Bank Of Canada restated a sector perform rating on shares of Teck Resources in a report on Tuesday, September 27th. Paradigm Capital boosted their price objective on shares of Teck Resources from C$23.75 to C$29.00 and gave the company a buy rating in a report on Wednesday, September 21st. Finally, CIBC boosted their price objective on shares of Teck Resources from C$23.00 to C$28.00 in a report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of C$29.21.
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In other news, insider Tim Watson sold 30,666 shares of the firm’s stock in a transaction dated 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 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.
Teck Resources Company Profile
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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