Teck Resources (TSE:TECK.B) Price Target Lowered to C$70.00 at Scotiabank

Teck Resources (TSE:TECK.B) had its target price lowered by Scotiabank from C$80.00 to C$70.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

TECK.B has been the topic of a number of other research reports. Jefferies Financial Group increased their price objective on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Citigroup raised Teck Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$76.00 to C$104.00 in a research report on Monday, February 2nd. Desjardins increased their price target on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce increased their price target on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Finally, National Bank Financial lifted their price target on shares of Teck Resources from C$70.00 to C$80.00 in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$75.50.

Teck Resources Price Performance

TSE TECK.B opened at C$66.20 on Monday. Teck Resources has a fifty-two week low of C$40.23 and a fifty-two week high of C$85.42. The stock’s 50-day moving average is C$74.71 and its two-hundred day moving average is C$65.22. The firm has a market cap of C$32.38 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of -0.38 and a beta of 1.92. 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 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%.