Teck Resources (TSE:TECK.B) Given New C$80.00 Price Target at Scotiabank

Teck Resources (TSE:TECK.B) had its price objective boosted by Scotiabank from C$75.00 to C$80.00 in a report issued on Tuesday,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the stock. TD Securities upped their target price 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. Canadian Imperial Bank of Commerce increased their price objective on Teck Resources from C$61.00 to C$77.00 in a research note on Wednesday, February 4th. Jefferies Financial Group raised their target price on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. National Bank Financial upped their price target on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Finally, Raymond James Financial increased their price target on Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$76.33.

Teck Resources Stock Performance

TECK.B opened at C$81.95 on Tuesday. Teck Resources has a 1-year low of C$40.23 and a 1-year high of C$82.99. The company has a market cap of C$40.01 billion, a price-to-earnings ratio of 32.91, a PEG ratio of -0.38 and a beta of 2.06. The company’s fifty day moving average price is C$72.28 and its two-hundred day moving average price is C$61.65. 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

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%.