National Bankshares Downgrades Teck Resources (TSE:TECK.B) to Sector Perform

National Bankshares downgraded shares of Teck Resources (TSE:TECK.B) from an outperform rating to a sector perform rating in a report issued on Tuesday morning,BayStreet.CA reports. National Bankshares currently has C$77.50 target price on the stock, down from their prior target price of C$85.00.

A number of other brokerages have also recently issued reports on TECK.B. Scotiabank raised their price objective on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Raymond James raised their price target on Teck Resources from C$74.00 to C$75.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Canaccord Genuity Group cut their target price on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Finally, CIBC lowered their price target on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$76.30.

Teck Resources Price Performance

Shares of Teck Resources stock opened at C$64.30 on Tuesday. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 52-week low of C$49.30 and a 52-week high of C$74.37. The company has a fifty day moving average of C$66.86 and a 200-day moving average of C$66.11. The stock has a market capitalization of C$32.92 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37.

Teck Resources Company Profile

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.