Desjardins Issues Pessimistic Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective lowered by research analysts at Desjardins from C$74.00 to C$72.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 45.87% from the company’s previous close.

TECK.B has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on shares of Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. TD Securities dropped their price target on Teck Resources from C$73.00 to C$62.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Raymond James lifted their price objective on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lowered their price objective on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group cut their target price on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$71.94.

Teck Resources Price Performance

Teck Resources stock opened at C$49.36 on Friday. The company has a fifty day simple moving average of C$53.42 and a 200-day simple moving average of C$59.88. The firm has a market capitalization of C$25.27 billion, a price-to-earnings ratio of 17.69, a PEG ratio of -0.38 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$74.37.

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.