Teck Resources (TSE:TECK.B) Price Target Raised to C$74.00

Key Points

• Teck Resources has had its price target increased by Scotiabank from C$70.00 to C$74.00, indicating a potential upside of 20.78% from its current price.
• Analysts remain mixed on Teck's stock; while six analysts rate it as a "Buy," others have downgraded their ratings, resulting in an average target price of C$66.62.
• Teck Resources experienced a 4.5% increase in its stock price on Tuesday, reaching C$61.27, with a market cap of C$29.90 billion.

Teck Resources (TSE:TECK.B - Get Free Report) had its price objective upped by research analysts at Scotiabank from C$70.00 to C$74.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 20.78% from the company's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada dropped their price objective on Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. National Bankshares downgraded Teck Resources from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on Teck Resources from C$60.00 to C$74.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Raymond James Financial dropped their price objective on Teck Resources from C$64.00 to C$63.00 in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and an average target price of C$66.62.

Teck Resources Stock Up 4.5%

Shares of TSE:TECK.B traded up C$2.63 during mid-day trading on Tuesday, hitting C$61.27. 980,606 shares of the company traded hands, compared to its average volume of 1,493,840. The firm has a market cap of C$29.90 billion, a P/E ratio of 105.64, a PEG ratio of -0.38 and a beta of 1.83. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. Teck Resources has a 52-week low of C$40.23 and a 52-week high of C$71.11. The firm's 50 day simple moving average is C$51.56 and its 200 day simple moving average is C$50.60.

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.

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