Teck Resources (TSE:TECK.B) Downgraded by Morgan Stanley – MarketBeat

Written by Amanda

Teck Resources (TSE:TECK.B) Downgraded by Morgan Stanley  MarketBeat

Teck Resources (TSE:TECK.BGet Rating) was downgraded by analysts at Morgan Stanley to a “hold” rating in a research note issued on Thursday. They currently have a C$45.00 target price on the stock. Morgan Stanley’s price objective would indicate a potential upside of 14.33% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group upgraded Teck Resources to a “buy” rating and set a C$66.00 price objective on the stock in a report on Wednesday, March 9th. Eight Capital upped their target price on Teck Resources from C$48.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. BMO Capital Markets decreased their target price on Teck Resources from C$61.00 to C$57.00 in a research report on Tuesday, April 12th. National Bankshares upped their target price on Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, April 19th. Finally, Citigroup upped their target price on Teck Resources from C$52.00 to C$58.00 in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$54.00.

Shares of TECK.B traded down C$1.47 during mid-day trading on Thursday, hitting C$39.36. The company’s stock had a trading volume of 2,343,188 shares, compared to its average volume of 2,157,619. The firm has a 50-day moving average price of C$49.95 and a 200 day moving average price of C$46.67. The stock has a market capitalization of C$20.93 billion and a price-to-earnings ratio of 5.17. The company has a debt-to-equity ratio of 37.83, a current ratio of 1.92 and a quick ratio of 1.19. Teck Resources has a fifty-two week low of C$24.84 and a fifty-two week high of C$57.50.


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About Teck Resources (Get Rating)

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company’s principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (TSE:TECK.B)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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