Teck Resources (TSE:TECK.B) Stock Rating Lowered by JPMorgan Chase & Co.

Key Points

• Teck Resources was downgraded by JPMorgan Chase & Co. from an "overweight" to a "neutral" rating, with a new target price set at C$56.00, down from C$63.00.
• Other analysts have also reduced their price targets on Teck Resources, with UBS cutting theirs to C$55.00, and Citigroup to the same amount, reflecting a cautious outlook.
• Teck Resources' stock traded down 4.8% to C$45.62, with a market capitalization of C$23.36 billion and a price-to-earnings ratio of 16.35.
• The company operates in various sectors, including coal, copper, and zinc, ranking as the world's second-largest exporter of seaborne metallurgical coal.

Teck Resources (TSE:TECK.B - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued to investors on Friday,BayStreet.CA reports. They presently have a C$56.00 target price on the stock, down from their previous target price of C$63.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 22.75% from the stock's current price.

A number of other analysts also recently weighed in on the stock. UBS Group cut their price target on shares of Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. TD Securities cut their target price on shares of Teck Resources from C$73.00 to C$62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Citigroup lowered their target price on Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. National Bankshares lifted their target price on shares of Teck Resources from C$65.00 to C$66.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating and cut their price target for the stock from C$72.00 to C$58.00 in a research note on Friday, July 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$64.11.

Teck Resources Trading Down 4.8%

TECK.B traded down C$2.32 during trading on Friday, reaching C$45.62. 2,118,313 shares of the company's stock were exchanged, compared to its average volume of 1,399,233. The company'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 P/E/G ratio of -0.38 and a beta of 1.37. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$72.92. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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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