Teck Resources (TSE:TECK.B) Hits New 52-Week High – Time to Buy?

Teck Resources Ltd (TSE:TECK.B)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$65.35 and last traded at C$64.21, with a volume of 156721 shares. The stock had previously closed at C$63.70.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TECK.B shares. Jefferies Financial Group lowered their price objective on shares of Teck Resources from C$80.00 to C$71.00 in a research report on Monday, December 8th. CIBC raised their target price on shares of Teck Resources from C$57.00 to C$61.00 and gave the stock a “buy” rating in a research note on Thursday, November 27th. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from C$56.00 to C$60.00 in a report on Thursday, October 9th. Citigroup increased their price target on shares of Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial reduced their price objective on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$63.54.

Teck Resources Price Performance

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’s fifty day moving average price is C$60.16 and its 200-day moving average price is C$54.99. The firm has a market cap of C$32.06 billion, a PE ratio of 26.37, a P/E/G ratio of -0.38 and a beta of 1.80.

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%.