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

Teck Resources (TSE:TECK.B) had its price objective dropped by equities researchers at Citigroup from C$74.00 to C$68.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 12.32% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. 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. JPMorgan Chase & Co. dropped their target price on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Raymond James lifted their target price on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. CIBC reduced their price target on Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Finally, Scotiabank boosted their price target on Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to 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 2.0 %

Shares of TECK.B stock traded up C$1.21 during mid-day trading on Thursday, reaching C$60.54. 361,422 shares of the company were exchanged, compared to its average volume of 916,430. The business’s 50 day simple moving average is C$61.68 and its 200 day simple moving average is C$64.34. 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 market capitalization of C$31.00 billion, a P/E ratio of 21.70, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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.