Teck Resources (TSE:TECK.B) Price Target Raised to C$75.00 at Scotiabank

Teck Resources (TSE:TECK.B) had its price target hoisted by Scotiabank from C$70.00 to C$75.00 in a research note published on Tuesday,BayStreet.CA reports.

A number of other research firms also recently issued reports on TECK.B. Stifel Nicolaus lifted their price objective on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$76.00 to C$104.00 in a report on Monday, February 2nd. Jefferies Financial Group lifted their price objective on shares of Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Finally, TD Securities lifted their price objective on shares of Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$75.92.

Teck Resources Stock Performance

TSE TECK.B opened at C$81.00 on Tuesday. Teck Resources has a 52-week low of C$42.95 and a 52-week high of C$85.42. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The company has a market capitalization of C$39.65 billion, a P/E ratio of 28.62, a P/E/G ratio of -0.38 and a beta of 1.82. The company has a fifty day moving average of C$74.56 and a 200-day moving average of C$67.30.

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. 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%.