Scotiabank Issues Positive Forecast for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective raised by Scotiabank from C$60.00 to C$70.00 in a research note published on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other research firms also recently weighed in on TECK.B. CIBC upped their price objective on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a report on Thursday, November 27th. Raymond James Financial lowered their target price on shares of Teck Resources from C$64.00 to C$63.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Finally, TD Securities raised their price objective on shares of Teck Resources from C$63.00 to C$70.00 in a research note on Tuesday, October 21st. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$64.31.

Teck Resources Stock Down 0.6%

Shares of Teck Resources stock opened at C$68.46 on Thursday. 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 1-year low of C$40.23 and a 1-year high of C$72.07. The business’s fifty day moving average price is C$61.29 and its two-hundred day moving average price is C$55.70. The company has a market capitalization of C$33.42 billion, a P/E ratio of 27.49, a PEG ratio of -0.38 and a beta of 2.03.

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%.