Canaccord Genuity Group Has Lowered Expectations for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its target price dropped by equities researchers at Canaccord Genuity Group from C$73.00 to C$71.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 17.14% from the company’s previous close.

Several other research analysts have also recently issued reports on TECK.B. Citigroup cut their target price on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group cut their price objective on shares of Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. National Bankshares dropped their price target on shares of Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research report on Thursday. CIBC reduced their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, Scotiabank dropped their target price on shares of Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Stock Up 2.2 %

TSE TECK.B traded up C$1.28 during trading hours on Thursday, hitting C$60.61. The company’s stock had a trading volume of 389,617 shares, compared to its average volume of 919,720. The company has a market capitalization of C$31.03 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 52 week low of C$49.45 and a 52 week high of C$74.37. The company’s 50-day simple moving average is C$61.68 and its two-hundred day simple moving average is C$64.34.

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.