Teck Resources (TSE:TECK.A) Sets New 52-Week High – Still a Buy?

Teck Resources Limited (TSE:TECK.A) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$68.27 and last traded at C$68.20, with a volume of 6833 shares. The stock had previously closed at C$65.57.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their price objective on Teck Resources from C$74.00 to C$80.00 in a report on Monday, October 6th.

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 50-day moving average is C$60.75 and its two-hundred day moving average is C$55.65. The stock has a market cap of C$33.30 billion, a PE ratio of 27.39 and a beta of 1.91.

Teck Resources (TSE:TECK.A) last released its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.57 EPS for the quarter. Teck Resources had a return on equity of 5.03% and a net margin of 9.41%.The company had revenue of C$3.39 billion for the quarter. On average, equities analysts predict that Teck Resources Limited will post 2.5209386 earnings per share for the current year.

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%.