Teck Resources (TSE:TECK.B) Sets New 1-Year High – What’s Next?

Shares of Teck Resources Ltd (TSE:TECK.B) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$74.42 and last traded at C$74.03, with a volume of 440740 shares changing hands. The stock had previously closed at C$69.47.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup increased their price objective on Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. National Bankshares downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$62.50 to C$65.00 in a research report on Wednesday, October 8th. Raymond James Financial cut their price objective on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. Finally, Stifel Nicolaus boosted their target price on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$65.00.

Teck Resources Stock 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 has a 50 day moving average of C$63.11 and a 200 day moving average of C$56.59. The stock has a market capitalization of C$35.85 billion, a P/E ratio of 29.49, a P/E/G ratio of -0.38 and a beta of 2.03.

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%.