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

Teck Resources (TSE:TECK.B) had its price target trimmed by Citigroup from C$68.00 to C$55.00 in a research report sent to investors on Monday,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the company. National Bankshares raised Teck Resources from a “sector perform” rating to an “outperform” rating and set a C$70.00 price objective for the company in a report on Friday, April 25th. Royal Bank of Canada reduced their price objective on 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. TD Securities reduced their price objective on 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. UBS Group reduced their price objective on Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Finally, Desjardins dropped their target price on Teck Resources from C$74.00 to C$72.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$71.13.

Teck Resources Stock Performance

TECK.B stock opened at C$53.06 on Monday. The firm has a market cap of C$27.17 billion, a PE ratio of 19.02, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The business has a 50 day moving average of C$49.00 and a 200-day moving average of C$56.08. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$72.92.

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.