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

Teck Resources (TSE:TECK.B) had its price objective cut by equities research analysts at Jefferies Financial Group from C$80.00 to C$70.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 18.40% from the stock’s current price.

Other equities analysts have also issued reports about the stock. National Bankshares lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Raymond James raised their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. CIBC cut their price target on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, Citigroup boosted their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$75.30.

Teck Resources Stock Down 0.5 %

Teck Resources stock opened at C$59.12 on Monday. The business has a fifty day moving average price of C$63.17 and a 200-day moving average price of C$64.90. Teck Resources has a 1-year low of C$49.30 and a 1-year high of C$74.37. The stock has a market capitalization of C$30.27 billion, a price-to-earnings ratio of 21.19, a PEG ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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.