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

Teck Resources (TSE:TECK.B) had its price objective cut by TD Securities from C$73.00 to C$62.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 31.61% from the stock’s previous close.

A number of other brokerages have also recently commented on TECK.B. National Bankshares lowered their target price on Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Scotiabank dropped their price objective on 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. Canaccord Genuity Group decreased 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 note on Thursday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from C$72.00 to C$58.00 in a research note on Thursday, April 10th. Finally, Raymond James increased their price target on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$73.71.

Teck Resources Price Performance

Shares of Teck Resources stock traded up C$0.29 on Tuesday, hitting C$47.11. The company’s stock had a trading volume of 350,898 shares, compared to its average volume of 1,277,307. 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 fifty day moving average price of C$55.96 and a 200-day moving average price of C$61.26. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$74.37. The company has a market capitalization of C$24.12 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37.

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.