Teck Resources (TSE:TECK.B – Get 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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