Teck Resources (TSE:TECK.B) Downgraded by TD Securities to “Hold”

Teck Resources (TSE:TECK.B) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Thursday,BayStreet.CA reports. They presently have a C$76.00 target price on the stock, up from their prior target price of C$70.00. TD Securities’ price target suggests a potential upside of 7.48% from the stock’s current price.

TECK.B has been the topic of several other research reports. Stifel Nicolaus lifted their price objective on shares of Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. Jefferies Financial Group raised their price objective on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$62.50 to C$65.00 in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Finally, CIBC raised their target price on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a report on Thursday, November 27th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$65.46.

Teck Resources Price Performance

TECK.B stock traded down C$2.60 during trading hours on Thursday, hitting C$70.71. 633,065 shares of the stock traded hands, compared to its average volume of 1,052,038. The stock has a 50-day simple moving average of C$63.35 and a 200 day simple moving average of C$56.71. The company has a market cap of C$34.52 billion, a P/E ratio of 28.40, a P/E/G ratio of -0.38 and a beta of 2.03. Teck Resources has a one year low of C$40.23 and a one year high of C$74.42. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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. 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%.