Teck Resources (TSE:TECK.B) Price Target Lowered to C$55.00 at Citigroup

Teck Resources (TSE:TECK.B) had its price target cut by Citigroup from C$68.00 to C$55.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 2.67% from the stock’s current price.

Several other research firms have also recently commented on TECK.B. UBS Group reduced their target price on shares of Teck Resources from C$67.00 to C$55.00 in a research note on Wednesday, April 23rd. National Bankshares upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating and set a C$70.00 price target for the company in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from C$72.00 to C$58.00 in a report on Thursday, April 10th. Royal Bank of Canada cut their price target on shares of Teck Resources from C$84.00 to C$82.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, TD Securities cut their price target on shares of Teck Resources from C$73.00 to C$62.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of C$71.13.

Teck Resources Stock Performance

Shares of TECK.B stock traded up C$0.74 during mid-day trading on Monday, hitting C$53.57. The stock had a trading volume of 5,556,224 shares, compared to its average volume of 1,315,097. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$72.92. The firm has a market cap of C$27.43 billion, a PE ratio of 19.20, a PEG ratio of -0.38 and a beta of 1.37. 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’s 50-day simple moving average is C$48.69 and its 200-day simple moving average is C$56.27.

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.