Teck Resources (TSE:TECK.B) Price Target Cut to C$70.00 by Analysts at Jefferies Financial Group

Teck Resources (TSE:TECK.B) had its price target cut by equities research analysts at Jefferies Financial Group from C$80.00 to C$70.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s target price points to a potential upside of 17.35% from the stock’s previous close.

Several other equities research analysts also recently commented on TECK.B. Raymond James increased their price objective on Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. Scotiabank raised their price objective on Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. CIBC decreased their price objective on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Canaccord Genuity Group reduced their price target on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, Citigroup raised their price target on Teck Resources from C$64.00 to C$74.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$75.30.

Teck Resources Stock Up 0.7 %

Shares of TSE:TECK.B traded up C$0.44 during mid-day trading on Monday, hitting C$59.65. 609,724 shares of the company traded hands, compared to its average volume of 606,903. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 52-week low of C$49.30 and a 52-week high of C$74.37. The firm’s 50 day simple moving average is C$63.48 and its 200 day simple moving average is C$64.98. The firm has a market cap of C$30.54 billion, a P/E ratio of 21.38, a PEG ratio of -0.38 and a beta of 1.37.

Teck Resources Company Profile

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.