Teck Resources (TSE:TECK.B) Lowered to Hold Rating by TD Securities

TD Securities cut shares of Teck Resources (TSE:TECK.B) from a buy rating to a hold rating in a report released on Thursday morning,BayStreet.CA reports. They currently have C$76.00 target price on the stock, up from their previous target price of C$70.00.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus raised their price objective on Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, October 21st. JPMorgan Chase & Co. increased their price target on Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. Raymond James Financial lowered their price target on Teck Resources from C$64.00 to C$63.00 in a report on Friday, October 10th. Citigroup upped their price objective on shares of Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on shares of Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$65.46.

Teck Resources Trading Down 3.7%

TSE:TECK.B opened at C$70.60 on Thursday. The stock has a market capitalization of C$34.47 billion, a price-to-earnings ratio of 28.35, a PEG ratio of -0.38 and a beta of 2.03. Teck Resources has a 52 week low of C$40.23 and a 52 week high of C$74.42. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The firm has a 50 day moving average of C$63.58 and a 200 day moving average of C$56.80.

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. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.