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Teck Resources (TSE:TECK.B) Shares Down 2.8% - Here's What Happened

Teck Resources logo with Basic Materials background

Key Points

  • Teck Resources Ltd experienced a stock decline of 2.8%, trading between C$43.85 and C$45.27.
  • Analysts from multiple research firms have revised their price targets for Teck Resources downward, with Scotiabank setting it at C$57.00, a significant drop from C$66.00.
  • The company, a major player in diversified mining, has a current market capitalization of C$22.13 billion and a consensus rating of "Moderate Buy" among analysts.
  • Interested in Teck Resources? Here are five stocks we like better.

Teck Resources Ltd (TSE:TECK.B - Get Free Report) shares were down 2.8% on Thursday . The company traded as low as C$43.85 and last traded at C$45.27. Approximately 3,059,918 shares traded hands during trading, an increase of 118% from the average daily volume of 1,402,577 shares. The stock had previously closed at C$46.59.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial boosted their target price on shares of Teck Resources from C$63.00 to C$64.00 in a research report on Thursday, August 21st. Citigroup decreased their target price on shares of 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. Scotiabank decreased their price objective on shares of Teck Resources from C$57.00 to C$55.00 and set an "outperform" rating for the company in a research report on Monday. JPMorgan Chase & Co. downgraded shares of Teck Resources from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from C$63.00 to C$56.00 in a research report on Friday, July 25th. Finally, National Bankshares decreased their price objective on shares of Teck Resources from C$66.00 to C$62.50 in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$64.12.

Get Our Latest Stock Report on Teck Resources

Teck Resources Trading Up 2.8%

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 company has a market capitalization of C$27.20 billion, a price-to-earnings ratio of 95.91, a price-to-earnings-growth ratio of -0.38 and a beta of 1.60. The business's 50 day simple moving average is C$48.09 and its 200 day simple moving average is C$50.75.

Teck Resources Company Profile

(Get Free Report)

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.

See Also

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