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

Teck Resources (TSE:TECK.B) had its price target boosted by Scotiabank from C$60.00 to C$70.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 3.95% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Citigroup upped their price target 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. National Bankshares downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Raymond James Financial dropped their target price on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Finally, Jefferies Financial Group cut their price target on Teck Resources from C$80.00 to C$71.00 in a report on Monday, December 8th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$64.31.

Teck Resources Stock Down 2.2%

Shares of TECK.B stock traded down C$1.54 during trading hours on Thursday, reaching C$67.34. The company had a trading volume of 440,559 shares, compared to its average volume of 1,037,750. The company 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. 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 12 month low of C$40.23 and a 12 month high of C$72.07. The business has a fifty day simple moving average of C$61.12 and a 200-day simple moving average of C$55.61.

Teck Resources Company Profile

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%.