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

Teck Resources (TSE:TECK.B) had its price target cut by Jefferies Financial Group from C$80.00 to C$70.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Several other brokerages have also recently commented on TECK.B. Royal Bank of Canada lowered their price target on Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Scotiabank increased their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their price target on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Finally, CIBC cut their target price on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$75.30.

Teck Resources Stock Performance

Shares of TECK.B opened at C$59.42 on Monday. Teck Resources has a one year low of C$49.30 and a one year high of C$74.37. The company has a 50-day moving average of C$63.30 and a two-hundred day moving average of C$64.94. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a market cap of C$30.42 billion, a price-to-earnings ratio of 21.30, a PEG ratio of -0.38 and a beta of 1.37.

About Teck Resources

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.