Teck Resources (TSE:TECK.B) Given New C$73.00 Price Target at Scotiabank

Teck Resources (TSE:TECK.B) had its price objective decreased by Scotiabank from C$75.00 to C$73.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other brokerages also recently commented on TECK.B. Canaccord Genuity Group cut their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Citigroup dropped their target price on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a report on Thursday. Raymond James upped their price target on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, CIBC reduced their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Stock Performance

TSE TECK.B opened at C$60.39 on Thursday. 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 1-year low of C$49.45 and a 1-year high of C$74.37. The firm has a market capitalization of C$30.92 billion, a P/E ratio of 21.65, a P/E/G ratio of -0.38 and a beta of 1.37. The business’s 50-day simple moving average is C$61.68 and its 200-day simple moving average is C$64.34.

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.