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

Teck Resources (TSE:TECK.B) had its price target decreased by equities research analysts at Citigroup from C$74.00 to C$68.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 12.32% from the company’s previous close.

A number of other analysts also recently issued reports on TECK.B. Scotiabank raised their price objective on Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. Raymond James raised their target price on Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. National Bankshares cut Teck Resources from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$85.00 to C$77.50 in a report on Tuesday, December 10th. Finally, CIBC lowered their target price on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Trading Up 2.0 %

Shares of TSE:TECK.B traded up C$1.21 during midday trading on Thursday, reaching C$60.54. 361,422 shares of the company’s stock were exchanged, compared to its average volume of 916,430. The firm’s 50 day simple moving average is C$61.68 and its two-hundred day simple moving average is C$64.34. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a market cap of C$31.00 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a fifty-two week low of C$49.45 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.