Citigroup Issues Pessimistic Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B - Free Report) had its target price decreased by Citigroup from C$68.00 to C$55.00 in a research note released on Monday,BayStreet.CA reports. Citigroup currently has a neutral rating on the stock.

Several other research firms also recently commented on TECK.B. Royal Bank of Canada reduced their price objective on Teck Resources from C$84.00 to C$82.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Desjardins reduced their price objective on Teck Resources from C$74.00 to C$72.00 and set a "buy" rating on the stock in a report on Friday, April 25th. TD Securities reduced their price objective on Teck Resources from C$73.00 to C$62.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. UBS Group reduced their price objective on Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Teck Resources from C$72.00 to C$58.00 in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus target price of C$71.13.

Teck Resources Trading Down 2.7%

Shares of TECK.B stock traded down C$1.41 on Monday, reaching C$51.65. 1,321,727 shares of the company's stock were exchanged, compared to its average volume of 1,321,066. Teck Resources has a 52 week low of C$40.23 and a 52 week high of C$72.92. 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 capitalization of C$26.44 billion, a PE ratio of 18.51, a P/E/G ratio of -0.38 and a beta of 1.37. The company's fifty day simple moving average is C$49.00 and its 200 day simple moving average is C$56.08.

Teck Resources Company Profile

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.