National Bankshares Lowers Teck Resources (TSE:TECK.B) Price Target to C$62.50

Key Points

• National Bankshares decreased its price target for Teck Resources from C$66.00 to C$62.50, indicating a potential upside of 37.00% from the stock's recent close.
• Multiple analysts have lowered their price targets for Teck Resources, with JPMorgan reducing it to C$56.00 and TD Securities to C$62.00 while maintaining a "buy" rating.
• Teck Resources' stock experienced a decline of 4.8%, closing at C$45.62 during recent trading hours.
• The company is a major player in the mining sector, primarily focusing on coal, copper, zinc, and oil sands, ranking as the world’s second-largest exporter of seaborne metallurgical coal.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price decreased by stock analysts at National Bankshares from C$66.00 to C$62.50 in a research report issued on Friday,BayStreet.CA reports. National Bankshares' price target would indicate a potential upside of 37.00% from the stock's previous close.

Other analysts have also issued research reports about the stock. TD Securities lowered their price target on shares of Teck Resources from C$73.00 to C$62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut shares of Teck Resources from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from C$63.00 to C$56.00 in a research report on Friday. UBS Group reduced their price objective on shares of Teck Resources from C$67.00 to C$55.00 in a research note on Wednesday, April 23rd. 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. Finally, Jefferies Financial Group dropped their price target on shares of Teck Resources from C$65.00 to C$60.00 in a research report on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$64.11.

Teck Resources Stock Down 4.8%

TSE:TECK.B traded down C$2.32 during trading hours on Friday, reaching C$45.62. The company had a trading volume of 2,118,313 shares, compared to its average volume of 1,399,233. 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 firm has a market cap of C$23.36 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of -0.38 and a beta of 1.37. The business's 50-day simple moving average is C$52.42 and its two-hundred day simple moving average is C$54.29. Teck Resources has a twelve month low of C$40.23 and a twelve month high of C$72.92.

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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