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 trimmed by Scotiabank from C$75.00 to C$73.00 in a research report released on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

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

Teck Resources Stock Performance

TECK.B stock opened at C$60.39 on Thursday. The stock’s fifty day moving average is C$61.68 and its two-hundred day moving average is C$64.34. The stock has a market capitalization of C$30.92 billion, a price-to-earnings ratio of 21.65, a PEG ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 1 year low of C$49.45 and a 1 year high of C$74.37.

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.