Teck Resources (TSE:TECK.B) Rating Lowered to "Hold" at Desjardins

Teck Resources (TSE:TECK.B - Get Free Report) was downgraded by investment analysts at Desjardins from a "buy" rating to a "hold" rating in a research note issued on Friday,BayStreet.CA reports. They currently have a C$58.00 price objective on the stock, down from their previous price objective of C$72.00. Desjardins' price objective suggests a potential upside of 12.67% from the company's previous close.

A number of other analysts have also recently issued reports on TECK.B. UBS Group reduced their target price on shares of Teck Resources from C$67.00 to C$55.00 in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$72.00 to C$58.00 in a research note on Thursday, April 10th. National Bankshares lifted their target price on shares of Teck Resources from C$65.00 to C$66.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. TD Securities reduced their target price on shares of Teck Resources from C$73.00 to C$62.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reduced their target price on shares of Teck Resources from C$84.00 to C$82.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$68.43.

Teck Resources Stock Down 1.6%

TECK.B traded down C$0.84 on Friday, reaching C$51.48. 1,204,033 shares of the company traded hands, compared to its average volume of 1,381,504. The stock's 50 day moving average price is C$52.48 and its 200-day moving average price is C$54.48. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$72.92. The company has a market cap of C$26.36 billion, a price-to-earnings ratio of 18.45, a PEG ratio of -0.38 and a beta of 1.37. 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 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.