Teck Resources (TSE:TECK.B) Price Target Raised to C$70.00 at Scotiabank

Teck Resources (TSE:TECK.B) had its price objective increased by equities research analysts at Scotiabank from C$60.00 to C$70.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 3.95% from the stock’s current price.

A number of other analysts also recently commented on TECK.B. Jefferies Financial Group lowered their target price on Teck Resources from C$80.00 to C$71.00 in a research note on Monday, December 8th. JPMorgan Chase & Co. boosted their price target on Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. National Bankshares lowered Teck Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$62.50 to C$65.00 in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Finally, Citigroup boosted their target price on shares of Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of C$64.31.

Teck Resources Stock Down 2.2%

TSE TECK.B traded down C$1.54 on Thursday, hitting C$67.34. The stock had a trading volume of 440,559 shares, compared to its average volume of 1,037,750. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$72.07. The business’s fifty day moving average price is C$61.12 and its 200 day moving average price is C$55.61. 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 stock has a market cap of C$32.88 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03.

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%.