Teck Resources (TSE:TECK.B) Given New C$60.00 Price Target at Jefferies Financial Group

Key Points

• The price target for Teck Resources (TSE:TECK.B) has been reduced from C$65.00 to C$60.00 by Jefferies Financial Group, indicating a potential upside of 31.52% from its current price.
• Multiple analysts have adjusted their ratings and target prices for Teck Resources, with some downgrading to "neutral" while others have raised their targets, showing a mix of optimism and caution.
• Teck has a market capitalization of C$23.36 billion and has been performing below its 12-month high of C$72.92, currently trading around C$45.62.
• The company is known for its diversified mining operations, 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 price objective cut by equities research analysts at Jefferies Financial Group from C$65.00 to C$60.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Jefferies Financial Group's price target points to a potential upside of 31.52% from the stock's current price.

Several other analysts have also recently commented on TECK.B. JPMorgan Chase & Co. cut Teck Resources from an "overweight" rating to a "neutral" rating and reduced their target price for the company from C$63.00 to C$56.00 in a report on Friday. National Bankshares upped their target price on Teck Resources from C$65.00 to C$66.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Raymond James Financial lowered their price target on Teck Resources from C$71.00 to C$63.00 in a research report on Friday. TD Securities lowered their price target on Teck Resources from C$73.00 to C$62.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Citigroup decreased their target price on Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$64.11.

Teck Resources Price Performance

TSE:TECK.B traded down C$2.32 during mid-day trading on Friday, reaching C$45.62. The stock had a trading volume of 2,118,313 shares, compared to its average volume of 1,399,233. The stock has a 50-day simple moving average of C$52.42 and a two-hundred day simple moving average of C$54.29. The stock has a market capitalization of C$23.36 billion, a PE ratio of 16.35, a P/E/G 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 has a 12 month low of C$40.23 and a 12 month high of C$72.92.

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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