Teck Resources (TSE:TECK.B) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised its target on Teck to C$75 (from C$70), though that target still implies about a 6.3% downside versus the stock's current price; several other banks also raised targets, including Citigroup which upgraded to a Buy with a C$104 target.
• Consensus across analysts is mixed—four Buy and six Hold ratings—with an average price target of C$75.92, while Teck traded around C$80.06 and sits near its 12‑month high (C$85.42).
• Teck is a diversified miner (coal, copper, zinc, oil sands) and is expanding copper production materially via the majority-owned Quebrada Blanca 2 project, which should raise attributable copper output by about 80%.

Teck Resources (TSE:TECK.B - Get Free Report) had its target price raised by equities researchers at Scotiabank from C$70.00 to C$75.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank's target price would indicate a potential downside of 6.32% from the company's current price.

TECK.B has been the topic of a number of other research reports. National Bank Financial boosted their price objective on Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Citigroup raised Teck Resources from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from C$76.00 to C$104.00 in a research note on Monday, February 2nd. Stifel Nicolaus upped their price target on Teck Resources from C$65.00 to C$80.00 and gave the company a "hold" rating in a research note on Wednesday, February 11th. TD Securities upped their price target on Teck Resources from C$76.00 to C$82.00 and gave the company a "hold" rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group upped their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Hold" and an average price target of C$75.92.

Teck Resources Price Performance

Teck Resources stock traded up C$0.88 on Tuesday, reaching C$80.06. The company's stock had a trading volume of 495,851 shares, compared to its average volume of 1,213,946. 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 company has a market cap of C$39.19 billion, a price-to-earnings ratio of 28.29, a PEG ratio of -0.38 and a beta of 1.82. The business's fifty day moving average price is C$74.55 and its 200 day moving average price is C$67.14. Teck Resources has a twelve month low of C$42.95 and a twelve month high of C$85.42.

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. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck's attributable copper production by around 80%.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.