Teck Resources (TSE:TECK.B) Rating Lowered to Sector Perform at National Bankshares

Key Points

• Teck Resources was downgraded by National Bankshares from "outperform" to "sector perform," with a new price target of C$65.00, reflecting a potential 9.02% upside.
• Other analysts have varied opinions on Teck, with some raising price targets while others have recently downgraded their ratings, leading to a consensus rating of "Moderate Buy" and an average price target of C$64.92.
• The company's stock traded up to C$59.62, with a 52-week range between C$40.23 and C$71.11, and it currently holds a market capitalization of C$29.09 billion.

Teck Resources (TSE:TECK.B - Get Free Report) was downgraded by equities research analysts at National Bankshares from an "outperform" rating to a "sector perform" rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$65.00 price objective on the stock, up from their previous price objective of C$62.50. National Bankshares' price target would suggest a potential upside of 9.02% from the company's previous close.

TECK.B has been the subject of several other reports. Royal Bank Of Canada cut their price objective on Teck Resources from C$82.00 to C$67.00 in a research report on Friday, July 25th. Desjardins downgraded Teck Resources from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$72.00 to C$58.00 in a research report on Friday, July 18th. Jefferies Financial Group lifted their price objective on Teck Resources from C$60.00 to C$74.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Raymond James Financial lifted their price objective on Teck Resources from C$63.00 to C$64.00 in a research report on Thursday, August 21st. Finally, TD Securities lifted their target price on shares of Teck Resources from C$60.00 to C$63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and an average price target of C$64.92.

Teck Resources Price Performance

Shares of Teck Resources stock traded up C$0.45 during trading on Wednesday, hitting C$59.62. 1,996,617 shares of the company were exchanged, compared to its average volume of 1,488,886. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$71.11. The stock has a market capitalization of C$29.09 billion, a price-to-earnings ratio of 102.79, a P/E/G ratio of -0.38 and a beta of 1.83. The firm has a 50 day moving average price of C$50.32 and a 200 day moving average price of C$50.60.

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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