Teck Resources (TSE:TECK.B) Trading Down 0.7% – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B)’s stock price traded down 0.7% on Wednesday . The company traded as low as C$64.35 and last traded at C$64.40. 865,329 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 1,166,581 shares. The stock had previously closed at C$64.88.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Raymond James raised their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. CIBC dropped their price target on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Finally, National Bankshares raised their price target on shares of Teck Resources from C$86.00 to C$90.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$77.13.

Teck Resources Trading Down 0.7 %

The firm has a market capitalization of C$32.97 billion, a price-to-earnings ratio of 23.08, a PEG ratio of -0.38 and a beta of 1.37. The business’s 50-day simple moving average is C$67.32 and its two-hundred day simple moving average is C$66.37. 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 Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.