Scotiabank Lowers Teck Resources (TSE:TECK.B) Price Target to C$57.00

Teck Resources (TSE:TECK.B) had its price objective lowered by analysts at Scotiabank from C$66.00 to C$57.00 in a report released on Friday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 26.02% from the stock’s previous close.

TECK.B has been the subject of several other research reports. Royal Bank Of Canada lowered their target price on shares of Teck Resources from C$82.00 to C$67.00 in a report on Friday. Citigroup reduced their price target on shares of Teck Resources from C$68.00 to C$55.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. UBS Group reduced their price target on shares of Teck Resources from C$67.00 to C$55.00 in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. downgraded shares of Teck Resources from an “overweight” rating to a “neutral” rating and reduced their price target for the company from C$63.00 to C$56.00 in a research report on Friday. Finally, National Bankshares upped their price target on shares of Teck Resources from C$65.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$63.12.

Teck Resources Trading Down 5.7%

Shares of Teck Resources stock opened at C$45.23 on Friday. The company has a fifty day simple moving average of C$52.32 and a 200-day simple moving average of C$54.16. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$72.92. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The stock has a market cap of C$23.16 billion, a price-to-earnings ratio of 16.21, a PEG ratio of -0.38 and a beta of 1.37.

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.