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

Teck Resources (TSE:TECK.B) had its price target lifted by Scotiabank from C$80.00 to C$85.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential downside of 8.18% from the stock’s current price.

Several other research firms have also commented on TECK.B. National Bank Financial lifted their price target on shares of 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. Raymond James Financial lifted their price target on shares of 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. Canadian Imperial Bank of Commerce lifted their price target on shares of Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday, April 24th. Canaccord Genuity Group lifted their price target on shares of 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. Finally, TD Securities lifted their price target on shares of 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. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$81.08.

Teck Resources Price Performance

Shares of TSE:TECK.B traded up C$1.96 during midday trading on Monday, hitting C$92.57. The company had a trading volume of 518,628 shares, compared to its average volume of 1,146,666. Teck Resources has a twelve month low of C$42.95 and a twelve month high of C$98.58. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock has a market cap of C$45.32 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of -0.38 and a beta of 1.76. The business’s 50-day simple moving average is C$84.11 and its 200-day simple moving average is C$74.95.

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. 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%.