Teck Resources (TSE:TECK.B) Sets New 12-Month High After Analyst Upgrade

Shares of Teck Resources Ltd (TSE:TECK.B) reached a new 52-week high during trading on Wednesday after Stifel Nicolaus raised their price target on the stock from C$65.00 to C$80.00. Stifel Nicolaus currently has a hold rating on the stock. Teck Resources traded as high as C$82.44 and last traded at C$82.35, with a volume of 919424 shares. The stock had previously closed at C$79.15.

A number of other equities analysts also recently commented on the stock. Scotiabank upped their target price on shares of Teck Resources from C$60.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 8th. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and boosted their price target for the company from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Desjardins increased their price objective on Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Raymond James Financial lifted their target price on Teck Resources from C$70.00 to C$77.00 in a research report on Monday. Finally, National Bankshares upped their target price on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$75.00.

Teck Resources Trading Up 4.0%

The stock has a market capitalization of C$40.21 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The company has a 50-day moving average price of C$68.33 and a 200 day moving average price of C$59.12.

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%.