Jefferies Financial Group Issues Pessimistic Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective cut by Jefferies Financial Group from C$80.00 to C$70.00 in a report released on Monday morning,BayStreet.CA reports.

TECK.B has been the topic of several other research reports. Citigroup boosted their target price on shares of Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. CIBC reduced their target price on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Raymond James increased their price target on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Finally, Scotiabank boosted their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of C$75.30.

Teck Resources Stock Up 0.9 %

Shares of TECK.B opened at C$59.63 on Monday. The business’s 50 day moving average is C$63.03 and its 200 day moving average is C$64.86. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a 12-month low of C$49.30 and a 12-month high of C$74.37. The company has a market capitalization of C$30.53 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37.

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.