TD Securities Has Lowered Expectations for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price target reduced by TD Securities from C$73.00 to C$62.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective suggests a potential upside of 33.71% from the stock’s previous close.

A number of other research firms have also weighed in on TECK.B. JPMorgan Chase & Co. reduced their price objective on Teck Resources from C$72.00 to C$58.00 in a research note on Thursday, April 10th. Raymond James lifted their target price on shares of Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Citigroup decreased their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Canaccord Genuity Group dropped their price target on shares of Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Scotiabank decreased their price objective on shares of Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$73.36.

Teck Resources Price Performance

Shares of TECK.B stock opened at C$46.37 on Tuesday. The firm has a market capitalization of C$23.74 billion, a price-to-earnings ratio of 16.62, a PEG ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The stock’s 50-day simple moving average is C$55.38 and its 200-day simple moving average is C$60.94. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$74.37.

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.