Price Target Update on Teck Resources Ltd (NYSE:TCK)

Teck Resources Ltd (NYSE:TCK) : The highest level Teck Resources Ltd (NYSE:TCK) is projected to reach is $16 for the short term and the lowest estimate is at $3. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $9.04 and the possibility the share price can swing is $3.52.

Other Equity analysts have also commented on the company shares. Goldman Sachs initiates coverage on Teck Resources Ltd (NYSE:TCK). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $12 per share. The rating by the firm was issued on May 19, 2016.

Teck Resources Ltd (NYSE:TCK): stock turned positive on Thursday. Though the stock opened at $12.58, the bulls momentum made the stock top out at $12.84 level for the day. The stock recorded a low of $12.38 and closed the trading day at $12.78, in the green by 3.82%. The total traded volume for the day was 5,767,136. The stock had closed at $12.31 in the previous days trading.

The company shares have rallied 15.37% from its 1 Year high price. On Jun 22, 2016, the shares registered one year high at $12.60 and the one year low was seen on Jan 13, 2016. The 50-Day Moving Average price is $10.55 and the 200 Day Moving Average price is recorded at $7.17.

Teck Resources Ltd. is engaged in the business of exploring, acquiring, developing and producing natural resources. The Company is focused on steelmaking coal, copper, zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead, molybdenum, silver, and various specialty and other metals, chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru, Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc, primarily from its Red Dog mine in Alaska, the Antamina mine in northern Peru, and its Pend Oreille mine in Washington State. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project, Frontier oil sands project in various other oil sands leases in the exploration phase, including the Lease 421 Area.

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