Scotiabank Forecasts Strong Price Appreciation for Teck Resources (TSE:TECK.B) Stock

Teck Resources (TSE:TECK.B) had its price target boosted by equities research analysts at Scotiabank from C$74.00 to C$75.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 5.93% from the company’s previous close.

Several other brokerages have also recently commented on TECK.B. TD Securities lifted their price target on shares of Teck Resources from C$78.00 to C$80.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Eight Capital raised their target price on Teck Resources from C$72.00 to C$75.00 in a report on Thursday, July 11th. National Bankshares upped their price target on Teck Resources from C$86.00 to C$90.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$76.75.

Teck Resources Trading Up 3.5 %

TECK.B stock opened at C$70.80 on Wednesday. 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 capitalization of C$36.25 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of -0.38 and a beta of 1.37. The business has a fifty day moving average price of C$66.37 and a 200 day moving average price of C$66.65. 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.