Teck Resources (TSE:TECK.B) Price Target Raised to C$70.00

Teck Resources (TSE:TECK.B) had its price objective increased by Scotiabank from C$60.00 to C$70.00 in a report released on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently weighed in on TECK.B. Raymond James Financial lowered their price target on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. National Bankshares lowered Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$62.50 to C$65.00 in a report on Wednesday, October 8th. CIBC raised their price target on Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a report on Thursday, November 27th. Citigroup lifted their price objective on shares of Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group dropped their price objective on shares of Teck Resources from C$80.00 to C$71.00 in a research report on Monday, December 8th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$64.31.

Teck Resources Price Performance

TSE TECK.B opened at C$68.99 on Thursday. The firm’s 50 day moving average is C$61.46 and its 200-day moving average is C$55.84. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The company has a market capitalization of C$33.68 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03. Teck Resources has a 12-month low of C$40.23 and a 12-month high of C$72.07.

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%.