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

TD Securities cut shares of Teck Resources (TSE:TECK.B) from a buy rating to a hold rating in a research report released on Thursday morning,BayStreet.CA reports. TD Securities currently has C$76.00 target price on the stock, up from their prior target price of C$70.00.

Several other brokerages have also recently issued reports on TECK.B. Raymond James Financial cut their target price on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Scotiabank increased their target price on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. CIBC increased their price objective on shares of Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a research note on Thursday, November 27th. Finally, National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$62.50 to C$65.00 in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$65.46.

Teck Resources Trading Up 2.9%

TECK.B opened at C$72.65 on Thursday. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$74.42. 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 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 moving average is C$63.88 and its 200 day moving average is C$56.95.

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%.