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

Teck Resources (TSE:TECK.B) had its price target trimmed by Scotiabank from C$80.00 to C$70.00 in a research note published on Monday,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce boosted their price objective on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$76.00 to C$104.00 in a research note on Monday, February 2nd. Raymond James Financial increased their price objective on shares of Teck Resources from C$70.00 to C$77.00 in a research note on Monday, February 9th. Stifel Nicolaus raised their price objective on Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Finally, National Bank Financial lifted their target price on 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average target price of C$75.50.

Teck Resources Stock Up 4.2%

Shares of Teck Resources stock opened at C$69.67 on Monday. The firm has a market cap of C$34.08 billion, a PE ratio of 24.62, a P/E/G ratio of -0.38 and a beta of 1.92. The business’s 50 day simple moving average is C$74.61 and its 200 day simple moving average is C$65.39. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$85.42.

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%.