Scotiabank Increases Teck Resources (TSE:TECK.B) Price Target to C$79.00

by · The Markets Daily

Teck Resources (TSE:TECK.B – Get Free Report) had its price objective hoisted by research analysts at Scotiabank from C$78.00 to C$79.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 16.95% from the stock’s current price.

Several other research firms have also issued reports on TECK.B. Bank of America dropped their price target on shares of Teck Resources from C$88.00 to C$87.00 in a research report on Friday, July 5th. CIBC set a C$80.00 price target on shares of Teck Resources and gave the stock an “outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from C$76.00 to C$74.00 in a research report on Thursday, July 25th. Eight Capital upped their price target on shares of Teck Resources from C$72.00 to C$75.00 in a research report on Thursday, July 11th. Finally, Royal Bank of Canada dropped their price target on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$76.50.

Get Our Latest Stock Report on TECK.B

Teck Resources Stock Performance

Shares of TECK.B opened at C$67.55 on Tuesday. 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 twelve month low of C$47.47 and a twelve month high of C$74.37. The firm’s 50 day moving average price is C$65.07 and its two-hundred day moving average price is C$66.03. The firm has a market cap of C$34.59 billion, a P/E ratio of 24.21, a PEG ratio of -0.38 and a beta of 1.37.

About Teck Resources

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Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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