Scotiabank Lowers Teck Resources (TSE:TECK.B) Price Target to C$60.00

Teck Resources (TSE:TECK.B) had its target price dropped by research analysts at Scotiabank from C$65.00 to C$60.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 0.30% from the company’s previous close.

Several other equities research analysts have also recently commented on TECK.B. Stifel Nicolaus increased their price target on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Jefferies Financial Group upped their target price on Teck Resources from C$60.00 to C$74.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. TD Securities lifted their price target on Teck Resources from C$63.00 to C$70.00 in a report on Tuesday, October 21st. National Bankshares lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Finally, Raymond James Financial cut their price objective on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$64.00.

Teck Resources Stock Up 0.4%

TECK.B opened at C$59.82 on Tuesday. The company has a market cap of C$29.21 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of -0.38 and a beta of 1.94. Teck Resources has a twelve month low of C$40.23 and a twelve month high of C$67.77. The company has a 50-day moving average price of C$58.76 and a 200 day moving average price of C$53.23. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

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.