Scotiabank Trims Teck Resources (TSE:TECK.B) Target Price to C$69.00

Teck Resources (TSE:TECK.B) had its target price reduced by Scotiabank from C$72.00 to C$69.00 in a report issued on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group cut their price target on shares of Teck Resources from C$71.00 to C$66.00 and set a buy rating for the company in a research note on Thursday, October 26th. Jefferies Financial Group raised their target price on Teck Resources from C$70.00 to C$73.00 and gave the stock a buy rating in a research report on Monday, November 6th. National Bankshares raised Teck Resources from a sector perform rating to an outperform rating and boosted their price target for the company from C$67.00 to C$70.00 in a research note on Friday, July 28th. JPMorgan Chase & Co. set a C$52.00 price objective on Teck Resources and gave the stock an overweight rating in a research note on Tuesday, October 17th. Finally, Raymond James reduced their target price on shares of Teck Resources from C$68.00 to C$67.00 in a research note on Thursday, November 9th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of C$64.35.

Teck Resources Price Performance

TSE:TECK.B opened at C$49.40 on Wednesday. The company has a debt-to-equity ratio of 37.91, a quick ratio of 0.97 and a current ratio of 1.20. The company has a 50-day moving average of C$53.34 and a 200-day moving average of C$54.85. Teck Resources has a 52 week low of C$42.39 and a 52 week high of C$66.04. The company has a market capitalization of C$25.30 billion, a price-to-earnings ratio of 11.62, a PEG ratio of -0.38 and a beta of 1.30.

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.