Teck Resources (TSE:TECK.B) PT Raised to C$79.00 at Scotiabank

Teck Resources (TSE:TECK.B) 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 firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 19.32% from the company’s current price.

Several other research firms have also recently issued reports on TECK.B. TD Securities upped their target price on shares of Teck Resources from C$78.00 to C$80.00 in a research note on Tuesday, July 16th. BMO Capital Markets cut their price objective on shares of Teck Resources from C$80.00 to C$77.00 in a report on Thursday, July 25th. Canaccord Genuity Group reduced their price target on shares of Teck Resources from C$80.00 to C$76.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from C$76.00 to C$74.00 in a research note on Thursday, July 25th. Finally, CIBC set a C$80.00 price objective on shares of Teck Resources and gave the stock an “outperform” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$76.50.

Teck Resources Stock Down 5.0 %

Shares of TSE:TECK.B traded down C$3.48 during midday trading on Tuesday, reaching C$66.21. The company’s stock had a trading volume of 899,013 shares, compared to its average volume of 1,177,601. The firm has a 50 day moving average of C$65.06 and a 200-day moving average of C$65.99. The firm has a market capitalization of C$33.90 billion, a P/E ratio of 23.73, a PEG 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. Teck Resources has a 12-month low of C$47.47 and a 12-month 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.