Teck Resources (TSE:TECK.B) Price Target Raised to C$74.00 at Scotiabank

Teck Resources (TSE:TECK.BFree Report) had its price objective raised by Scotiabank from C$70.00 to C$74.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently commented on TECK.B. Desjardins downgraded Teck Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from C$72.00 to C$58.00 in a research report on Friday, July 18th. Citigroup increased their price target on Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. Raymond James Financial decreased their price target on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Finally, Jefferies Financial Group increased their price target on Teck Resources from C$60.00 to C$74.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$66.62.

Check Out Our Latest Report on Teck Resources

Teck Resources Trading Up 3.5%

Shares of Teck Resources stock opened at C$60.70 on Tuesday. The stock has a fifty day simple moving average of C$51.88 and a 200 day simple moving average of C$50.67. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$71.11. The company has a market capitalization of C$29.62 billion, a P/E ratio of 104.66, a price-to-earnings-growth ratio of -0.38 and a beta of 1.83. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

About Teck Resources

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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.

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