Teck Resources (TSE:TECK.B) Price Target Cut to C$63.00 by Analysts at Raymond James Financial

Key Points

• Raymond James Financial has lowered its price target for Teck Resources from C$71.00 to C$63.00, indicating a potential upside of 38.10% from the stock's previous close.
• Other analysts have also adjusted their targets, with Citigroup reducing their estimate to C$55.00 and JPMorgan lowering it to C$56.00, reflecting mixed sentiments about the company's performance.
• Teck Resources' stock recently traded down to C$45.62, with a notable 12-month range between C$40.23 and C$72.92.
• The company is a major player in the mining industry, ranking as the world's second-largest exporter of metallurgical coal and a significant zinc producer.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective dropped by Raymond James Financial from C$71.00 to C$63.00 in a report released on Friday,BayStreet.CA reports. Raymond James Financial's price objective suggests a potential upside of 38.10% from the stock's previous close.

Several other equities research analysts also recently commented on the company. Citigroup cut their price objective on Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a report on Monday, June 9th. National Bankshares lifted their price target on 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. JPMorgan Chase & Co. lowered Teck Resources from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from C$63.00 to C$56.00 in a research note on Friday. Royal Bank Of Canada decreased their price objective on Teck Resources from C$82.00 to C$67.00 in a report on Friday. Finally, UBS Group decreased their price target on Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$64.11.

Teck Resources Stock Performance

TECK.B stock traded down C$2.32 on Friday, reaching C$45.62. 2,118,313 shares of the company were exchanged, compared to its average volume of 1,399,233. 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. The stock's fifty day moving average price is C$52.42 and its 200 day moving average price is C$54.29. The firm has a market capitalization of C$23.36 billion, a PE ratio of 16.35, a PEG ratio of -0.38 and a beta of 1.37.

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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