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

Teck Resources (TSE:TECK.B) had its price target dropped by stock analysts at 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 18.40% from the company’s previous close.

A number of other brokerages also recently issued reports on TECK.B. Royal Bank of Canada cut their price objective on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Scotiabank increased their price target on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Raymond James upped their price objective on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Finally, CIBC decreased their target price on Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$75.30.

Teck Resources Stock Down 0.5 %

Teck Resources stock opened at C$59.12 on Monday. The firm has a market cap of C$30.27 billion, a price-to-earnings ratio of 21.19, a PEG ratio of -0.38 and a beta of 1.37. The stock has a fifty day simple moving average of C$63.17 and a two-hundred day simple moving average of C$64.90. Teck Resources has a 12 month low of C$49.30 and a 12 month high of C$74.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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.