Teck Resources (TSE:TECK.B) Price Target Lowered to C$55.00 at Scotiabank

Key Points

• Scotiabank has reduced the price target for Teck Resources (TSE:TECK.B) from C$57.00 to C$55.00 while maintaining an "outperform" rating, indicating a potential upside of 14.13% from the current price.
• Other firms, including Desjardins and National Bankshares, have also downgraded their target prices for Teck Resources, reflecting a cautious outlook from multiple analysts.
• Teck Resources trades around C$48.19, is a leading exporter of metallurgical coal, and has a market cap of C$23.56 billion, with significant contributions from coal, copper, and zinc operations.

Teck Resources (TSE:TECK.B - Free Report) had its price objective decreased by Scotiabank from C$57.00 to C$55.00 in a research note published on Monday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Raymond James Financial raised their target price on shares of Teck Resources from C$63.00 to C$64.00 in a research report on Thursday, August 21st. JPMorgan Chase & Co. lowered shares of Teck Resources from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from C$63.00 to C$56.00 in a research report on Friday, July 25th. Desjardins lowered shares of Teck Resources from a "buy" rating to a "hold" rating and reduced their target price for the stock from C$72.00 to C$58.00 in a research report on Friday, July 18th. Finally, Royal Bank Of Canada reduced their target price on shares of Teck Resources from C$82.00 to C$67.00 in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and a consensus price target of C$64.12.

Teck Resources Trading Up 0.6%

TSE TECK.B traded up C$0.32 during trading on Monday, hitting C$57.99. The stock had a trading volume of 1,794,159 shares, compared to its average volume of 1,460,560. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a market capitalization of C$28.35 billion, a price-to-earnings ratio of 99.98, a P/E/G ratio of -0.38 and a beta of 1.60. Teck Resources has a one year low of C$40.23 and a one year high of C$72.92. The stock has a 50 day simple moving average of C$48.14 and a 200 day simple moving average of C$50.78.

Teck Resources Company Profile

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.