JPMorgan Chase & Co. Has Lowered Expectations for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price target lowered by analysts at JPMorgan Chase & Co. from C$72.00 to C$58.00 in a research note issued to investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 30.28% from the stock’s current price.

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

Teck Resources Trading Down 5.6 %

Shares of Teck Resources stock traded down C$2.66 during trading on Thursday, hitting C$44.52. 1,220,168 shares of the company were exchanged, compared to its average volume of 1,262,986. The firm has a market capitalization of C$22.79 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm’s fifty day moving average price is C$56.78 and its 200 day moving average price is C$61.67. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. Teck Resources has a 1-year low of C$40.23 and a 1-year 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.