Teck Resources (TSE:TECK.B) Given New C$71.00 Price Target at Canaccord Genuity Group

Teck Resources (TSE:TECK.B) had its price target lowered by analysts at Canaccord Genuity Group from C$73.00 to C$71.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 17.14% from the company’s current price.

A number of other research firms also recently weighed in on TECK.B. Jefferies Financial Group reduced their price target on Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Canaccord Genuity Group reduced their target price on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. National Bankshares lowered their price target on shares of Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from C$78.00 to C$76.00 in a research note on Friday, October 25th. Finally, Raymond James lifted their target price on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$76.29.

Teck Resources Stock Up 2.2 %

Shares of TECK.B stock traded up C$1.28 on Thursday, hitting C$60.61. 389,617 shares of the stock were exchanged, compared to its average volume of 919,720. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The firm has a market capitalization of C$31.03 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. Teck Resources has a fifty-two week low of C$49.45 and a fifty-two week high of C$74.37. The business has a 50-day moving average of C$61.68 and a 200 day moving average of C$64.34.

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.