Teck Resources (TSE:TECK.B) Rating Lowered to Hold at TD Securities

Teck Resources (TSE:TECK.B) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$76.00 price target on the stock, up from their prior price target of C$70.00. TD Securities’ price target would indicate a potential upside of 4.61% from the company’s previous close.

Several other brokerages also recently commented on TECK.B. Scotiabank upped their price target on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. National Bankshares downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$62.50 to C$65.00 in a research note on Wednesday, October 8th. Jefferies Financial Group raised their target price on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Stifel Nicolaus lifted their price target on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Finally, CIBC upped their price target on Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a research report on Thursday, November 27th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$65.46.

Teck Resources Price Performance

TECK.B stock opened at C$72.65 on Thursday. Teck Resources has a one year low of C$40.23 and a one year high of C$74.42. The firm has a 50-day moving average of C$63.88 and a two-hundred day moving average of C$56.92. The firm has a market capitalization of C$35.47 billion, a PE ratio of 29.18, a P/E/G ratio of -0.38 and a beta of 2.03. 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 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. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.