Teck Resources (TSE:TECK.B) Given New C$73.00 Price Target at Scotiabank

Teck Resources (TSE:TECK.B - Get Free Report) had its target price reduced by equities research analysts at Scotiabank from C$75.00 to C$73.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 25.06% from the stock's previous close.

Several other research firms have also recently weighed in on TECK.B. Citigroup cut their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a "neutral" rating for the company in a research note on Thursday. National Bankshares lowered Teck Resources from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from C$85.00 to C$77.50 in a research note on Tuesday, December 10th. Canaccord Genuity Group lowered their target price on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. CIBC decreased their price target on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price target on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$76.29.

Teck Resources Price Performance

TECK.B traded down C$1.00 on Thursday, hitting C$58.37. 933,205 shares of the company's stock traded hands, compared to its average volume of 953,405. The company's 50 day simple moving average is C$61.45 and its 200-day simple moving average is C$64.20. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. Teck Resources has a one year low of C$49.45 and a one year high of C$74.37. The firm has a market cap of C$29.89 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of -0.38 and a beta of 1.37.

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.