Teck Resources (TSE:TECK.B) Given New C$60.00 Price Target at TD Securities

Key Points

• TD Securities lowered its price target for Teck Resources from C$64.00 to C$60.00 while maintaining a "buy" rating, indicating a potential upside of 31.52% from the current price.
• Other analysts have also cut their target prices for Teck Resources, with Desjardins reducing it from C$72.00 to C$58.00 and Scotiabank lowering theirs from C$66.00 to C$57.00.
• Teck Resources shares fell 4.8% on the trading day, reaching a price of C$45.62, with trading volume exceeding average levels.
• Teck is one of the world's largest exporters of seaborne metallurgical coal and ranks among the top three zinc miners, diversified across various commodities including coal, copper, and oil sands.

Teck Resources (TSE:TECK.B - Get Free Report) had its price target lowered by equities research analysts at TD Securities from C$64.00 to C$60.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price target suggests a potential upside of 31.52% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating and decreased their target price for the company from C$72.00 to C$58.00 in a research report on Friday, July 18th. Scotiabank cut their price objective on shares of Teck Resources from C$66.00 to C$57.00 in a research note on Friday. Raymond James Financial dropped their price target on shares of Teck Resources from C$71.00 to C$63.00 in a research report on Friday. JPMorgan Chase & Co. lowered shares of Teck Resources from an "overweight" rating to a "neutral" rating and dropped their target price for the company from C$63.00 to C$56.00 in a research report on Friday. Finally, UBS Group decreased their price target on shares of Teck Resources from C$67.00 to C$55.00 in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and an average price target of C$64.11.

Teck Resources Trading Down 4.8%

Shares of TSE:TECK.B traded down C$2.32 during trading on Friday, reaching C$45.62. 2,118,313 shares of the company were exchanged, compared to its average volume of 1,399,233. The firm 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 business's fifty day simple moving average is C$52.42 and its 200-day simple moving average is C$54.29. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$72.92. 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.

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