Teck Resources (TSE:TECK.B) Price Target Cut to C$73.00 by Analysts at Scotiabank

Teck Resources (TSE:TECK.B) had its target price dropped by investment analysts at Scotiabank from C$75.00 to C$73.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 20.58% from the company’s current price.

TECK.B has been the subject of a number of other reports. Jefferies Financial Group dropped their price objective on shares of Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research note on Thursday. National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Canaccord Genuity Group cut their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Finally, CIBC cut their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Stock Performance

TSE TECK.B traded up C$1.21 on Thursday, reaching C$60.54. The stock had a trading volume of 361,422 shares, compared to its average volume of 916,430. Teck Resources has a 12-month low of C$49.45 and a 12-month high of C$74.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The business’s 50-day moving average price is C$61.68 and its 200 day moving average price is C$64.34. The stock has a market cap of C$31.00 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37.

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.