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

Teck Resources (TSE:TECK.B) had its target price lowered by Canaccord Genuity Group from C$73.00 to C$71.00 in a research note published on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on TECK.B. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$78.00 to C$76.00 in a research note on Friday, October 25th. CIBC decreased their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. 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 note on Thursday. Canaccord Genuity Group decreased their price target on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, National Bankshares cut their price objective on 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Stock Up 1.8 %

Shares of TSE:TECK.B opened at C$60.39 on Thursday. The stock has a market cap of C$30.92 billion, a price-to-earnings ratio of 21.65, a PEG ratio of -0.38 and a beta of 1.37. The business’s 50 day moving average is C$61.68 and its 200 day moving average is C$64.34. Teck Resources has a 12-month low of C$49.45 and a 12-month 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.