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

Teck Resources (TSE:TECK.B) had its target price reduced by Jefferies Financial Group from C$80.00 to C$70.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target points to a potential upside of 17.35% from the stock’s current price.

Several other brokerages have also commented on TECK.B. 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. Royal Bank of Canada cut their price target on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Canaccord Genuity Group reduced their target price on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Citigroup increased their price objective on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Raymond James boosted their price objective on Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$75.30.

Teck Resources Stock Up 0.7 %

TSE:TECK.B traded up C$0.44 during midday trading on Monday, reaching C$59.65. 609,724 shares of the stock traded hands, compared to its average volume of 606,903. Teck Resources has a 12-month low of C$49.30 and a 12-month high of C$74.37. 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 has a market capitalization of C$30.54 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The business has a 50-day moving average of C$63.48 and a two-hundred day moving average of C$64.98.

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.