Citigroup Cuts Teck Resources (TSE:TECK.B) Price Target to C$68.00

Teck Resources (TSE:TECK.B) had its target price cut by Citigroup from C$74.00 to C$68.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on TECK.B. CIBC reduced their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Raymond James boosted their price objective on shares of Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. Jefferies Financial Group reduced their target price on Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$85.00 to C$77.50 in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group reduced their price objective on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Trading Down 1.7 %

TSE TECK.B opened at C$59.37 on Thursday. The stock’s fifty day moving average price is C$61.45 and its 200-day moving average price is C$64.23. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The stock has a market cap of C$30.40 billion, a P/E ratio of 21.28, a P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a 12 month low of C$49.45 and a 12 month 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.