JPMorgan Chase & Co. Lowers Teck Resources (TSE:TECK.B) Price Target to C$58.00

Teck Resources (TSE:TECK.B) had its price target trimmed by JPMorgan Chase & Co. from C$72.00 to C$58.00 in a research note released on Thursday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on the company. Raymond James upped their price objective on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Canaccord Genuity Group dropped their price objective on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Jefferies Financial Group decreased their target price on Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Scotiabank lowered their target price on shares of Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Citigroup reduced their price target on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$75.00.

Teck Resources Trading Up 5.2 %

Shares of TSE TECK.B opened at C$46.70 on Thursday. The company has a market cap of C$23.91 billion, a PE ratio of 16.74, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The firm’s 50 day moving average price is C$56.24 and its 200-day moving average price is C$61.45. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$74.37.

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.