Teck Resources (TSE:TECK.B) Reaches New 12-Month High – What’s Next?

Teck Resources Ltd (TSE:TECK.B) reached a new 52-week high on Monday . The stock traded as high as C$82.95 and last traded at C$82.65, with a volume of 136247 shares trading hands. The stock had previously closed at C$81.32.

Wall Street Analyst Weigh In

A number of research analysts have commented on TECK.B shares. TD Securities cut shares of Teck Resources from a “buy” rating to a “hold” rating and raised their price target for the stock from C$70.00 to C$76.00 in a research note 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. Canadian Imperial Bank of Commerce upped their target price on shares of Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. Raymond James Financial boosted their price target on shares of Teck Resources from C$70.00 to C$77.00 in a research report on Monday, February 9th. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$76.00 to C$104.00 in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$75.00.

Teck Resources Stock Performance

The firm has a fifty day moving average of C$71.39 and a 200-day moving average of C$61.14. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The firm has a market cap of C$39.36 billion, a P/E ratio of 32.38, a PEG ratio of -0.38 and a beta of 2.06.

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%.