Teck Resources (TSE:TECK.B) Given New C$68.00 Price Target at Citigroup

Teck Resources (TSE:TECK.B) had its price objective reduced by stock analysts at Citigroup from C$74.00 to C$68.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 14.54% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Raymond James increased their price target on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Scotiabank lifted their price objective on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. National Bankshares lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group dropped their price target on shares of Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$76.29.

Teck Resources Stock Down 1.7 %

TECK.B stock opened at C$59.37 on Thursday. The stock has a market cap of C$30.40 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm’s 50-day simple moving average is C$61.58 and its 200 day simple moving average is C$64.29. Teck Resources has a fifty-two week low of C$49.45 and a fifty-two week high of C$74.37. The company has a quick ratio of 0.97, a current ratio of 1.48 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.