Scotiabank Has Lowered Expectations for Teck Resources (TSE:TECK.B) Stock Price

Teck Resources (TSE:TECK.B) had its price objective decreased by equities research analysts at Scotiabank from C$65.00 to C$60.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 0.70% from the company’s current price.

Other research analysts have also issued reports about the stock. Stifel Nicolaus raised their price target on shares of Teck Resources from C$60.00 to C$65.00 in a research report on Tuesday, October 21st. TD Securities raised their price objective on shares of Teck Resources from C$63.00 to C$70.00 in a report on Tuesday, October 21st. Raymond James Financial reduced their price target on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$62.50 to C$65.00 in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their price target on shares of Teck Resources from C$60.00 to C$74.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$64.00.

Teck Resources Price Performance

Teck Resources stock traded up C$1.64 during mid-day trading on Tuesday, reaching C$59.58. 668,841 shares of the company were exchanged, compared to its average volume of 1,443,163. 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 12 month low of C$40.23 and a 12 month high of C$67.77. The firm has a market cap of C$29.09 billion, a PE ratio of 23.93, a PEG ratio of -0.38 and a beta of 1.94. The company has a fifty day simple moving average of C$58.57 and a 200-day simple moving average of C$53.11.

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.