Citigroup Raises Teck Resources (TSE:TECK.B) Price Target to C$60.00

Key Points

• Citigroup increased its price target for Teck Resources (TSE: TECK.B) from C$55.00 to C$60.00, maintaining a "neutral" rating on the stock.
• Other brokerages have varied opinions, with Desjardins downgrading to "hold" and reducing their price target to C$58.00, while National Bankshares raised theirs to C$65.00.
• Teck Resources shares saw a slight increase of 0.8%, closing at C$59.62, amid fluctuating analyst ratings and target prices.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price upped by analysts at Citigroup from C$55.00 to C$60.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target would suggest a potential upside of 0.64% from the company's current price.

A number of other brokerages also recently commented on TECK.B. Desjardins downgraded shares of Teck Resources from a "buy" rating to a "hold" rating and reduced their target price for the stock from C$72.00 to C$58.00 in a report on Friday, July 18th. Scotiabank reduced their target price on shares of Teck Resources from C$57.00 to C$55.00 and set an "outperform" rating for the company in a report on Monday, September 8th. National Bankshares downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from C$62.50 to C$65.00 in a report on Wednesday. Royal Bank Of Canada reduced their target price on shares of Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. downgraded shares of Teck Resources from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from C$63.00 to C$56.00 in a report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$64.92.

Teck Resources Stock Up 0.8%

Shares of TECK.B stock traded up C$0.45 on Wednesday, hitting C$59.62. The stock had a trading volume of 1,996,617 shares, compared to its average volume of 1,488,886. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The business has a 50 day moving average price of C$50.32 and a 200 day moving average price of C$50.60. The company has a market cap of C$29.09 billion, a PE ratio of 102.79, a P/E/G ratio of -0.38 and a beta of 1.83. Teck Resources has a one year low of C$40.23 and a one year high of C$71.11.

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.

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