Teck Resources (TSE:TECK.B) Price Target Cut to C$74.00 by Analysts at Scotiabank

Teck Resources (TSE:TECK.B) had its price target reduced by Scotiabank from C$79.00 to C$74.00 in a report issued on Friday, BayStreet.CA reports.

Several other analysts also recently issued reports on the stock. Citigroup increased their price objective on shares of Teck Resources from C$64.00 to C$74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lowered their price target on Teck Resources from C$88.00 to C$87.00 in a report on Friday, July 5th. Royal Bank of Canada reduced their price objective on Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Raymond James boosted their target price on shares of Teck Resources from C$71.00 to C$73.00 in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Teck Resources from C$74.00 to C$78.00 in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$76.63.

Teck Resources Stock Up 1.5 %

Shares of TECK.B opened at C$65.80 on Friday. The firm has a market cap of C$33.69 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. 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’s fifty day moving average is C$66.34 and its two-hundred day moving average is C$66.62. Teck Resources has a fifty-two week low of C$47.47 and a fifty-two week high of C$74.37.

About Teck Resources

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.