Teck Resources (TSE:TECK.B) Stock Price Expected to Rise, Scotiabank Analyst Says

Teck Resources (TSE:TECK.B) had its price objective boosted by Scotiabank from C$70.00 to C$75.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank’s price target suggests a potential downside of 6.32% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Desjardins boosted their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, January 26th. National Bank Financial upped their price target on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Jefferies Financial Group upped their price target on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Raymond James Financial upped their price target on Teck Resources from C$70.00 to C$77.00 in a report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce upped their price target on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$75.92.

Teck Resources Stock Up 1.1%

Shares of TSE TECK.B traded up C$0.88 during midday trading on Tuesday, hitting C$80.06. 495,851 shares of the stock traded hands, compared to its average volume of 1,213,946. The company has a market cap of C$39.19 billion, a PE ratio of 28.29, a P/E/G ratio of -0.38 and a beta of 1.82. Teck Resources has a one year low of C$42.95 and a one year high of C$85.42. The business has a 50 day moving average price of C$74.55 and a two-hundred day moving average price of C$67.14. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

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%.