Raymond James Financial Lowers Teck Resources (TSE:TECK.B) Price Target to C$63.00

Key Points

• Raymond James Financial has lowered the price target for Teck Resources from C$64.00 to C$63.00, suggesting a potential upside of 7.69% from the current share price.
• Other analysts have varying recommendations, with Royal Bank of Canada reducing their target to C$67.00 and Jefferies Financial Group increasing theirs to C$74.00, while maintaining a "buy" rating.
• Teck Resources has a market cap of C$28.55 billion and shows mixed stock performance, having traded down C$3.02 to C$58.50 recently, amid a 52-week trading range of C$40.23 to C$71.11.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective decreased by Raymond James Financial from C$64.00 to C$63.00 in a note issued to investors on Friday,BayStreet.CA reports. Raymond James Financial's price target would indicate a potential upside of 7.69% from the company's current price.

A number of other research firms have also issued reports on TECK.B. Royal Bank Of Canada decreased their price objective on Teck Resources from C$82.00 to C$67.00 in a research note on Friday, July 25th. Jefferies Financial Group upped their price objective on Teck Resources from C$60.00 to C$74.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Scotiabank dropped their target price on 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. TD Securities upped their price target on Teck Resources from C$60.00 to C$63.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating and lowered their price target for the company from C$72.00 to C$58.00 in a research report on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$65.15.

Teck Resources Stock Performance

Shares of TECK.B traded down C$3.02 during mid-day trading on Friday, hitting C$58.50. The stock had a trading volume of 1,704,288 shares, compared to its average volume of 1,492,336. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a 52 week low of C$40.23 and a 52 week high of C$71.11. The firm has a market cap of C$28.55 billion, a P/E ratio of 100.86, a PEG ratio of -0.38 and a beta of 1.83. The business has a fifty day moving average price of C$50.96 and a 200-day moving average price of C$50.67.

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.

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