Teck Resources (TSE:TECK.B) Given New C$85.00 Price Target at Scotiabank

Teck Resources (TSE:TECK.B) had its price objective upped by investment analysts at Scotiabank from C$80.00 to C$85.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential downside of 8.18% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Canadian Imperial Bank of Commerce raised their price objective on Teck Resources from C$79.00 to C$83.00 and gave the stock a “tender” rating in a report on Friday, April 24th. Canaccord Genuity Group boosted their price target on Teck Resources from C$78.00 to C$85.50 and gave the company a “hold” rating in a research report on Friday, April 24th. TD Securities boosted their price target on Teck Resources from C$76.00 to C$82.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. National Bank Financial boosted their price target on Teck Resources from C$90.00 to C$92.50 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Raymond James Financial boosted their price target on Teck Resources from C$78.00 to C$80.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of C$81.08.

Teck Resources Stock Performance

Shares of TECK.B stock traded up C$1.96 during mid-day trading on Monday, hitting C$92.57. 518,628 shares of the stock were exchanged, compared to its average volume of 1,146,666. The stock’s fifty day simple moving average is C$84.11 and its two-hundred day simple moving average is C$74.95. The stock has a market capitalization of C$45.32 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of -0.38 and a beta of 1.76. Teck Resources has a 12-month low of C$42.95 and a 12-month high of C$98.58. 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 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%.