Canaccord Genuity Group Lowers Teck Resources (TSE:TECK.B) Price Target to C$71.00

Teck Resources (TSE:TECK.B) had its price objective lowered by stock analysts at Canaccord Genuity Group from C$73.00 to C$71.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 19.59% from the company’s current price.

A number of other equities analysts have also recently issued reports on TECK.B. CIBC lowered their target price on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Canaccord Genuity Group cut their price target on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Raymond James boosted their target price on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Finally, Scotiabank dropped their target price on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Stock Down 1.7 %

Shares of TSE TECK.B opened at C$59.37 on Thursday. 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 has a 52-week low of C$49.45 and a 52-week high of C$74.37. The firm has a 50 day moving average price of C$61.58 and a 200 day moving average price of C$64.29. The stock has a market cap of C$30.40 billion, a P/E ratio of 21.28, a P/E/G ratio of -0.38 and a beta of 1.37.

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.