Teck Resources (TSE:TECK.B) Hits New 1-Year High After Analyst Upgrade

Teck Resources Ltd (TSE:TECK.B)’s share price hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from C$70.00 to C$72.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Teck Resources traded as high as C$69.59 and last traded at C$68.88, with a volume of 261910 shares trading hands. The stock had previously closed at C$67.65.

A number of other research firms have also recently commented on TECK.B. Jefferies Financial Group boosted their price objective on Teck Resources from C$75.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, April 12th. UBS Group cut their price target on shares of Teck Resources from C$64.00 to C$63.00 in a report on Wednesday, January 17th. Raymond James increased their price objective on shares of Teck Resources from C$64.00 to C$70.00 and gave the company an “outperform” rating in a report on Tuesday. Scotiabank boosted their target price on shares of Teck Resources from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a research note on Monday, January 15th. Finally, Eight Capital upped their price target on shares of Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$72.50.

Teck Resources Stock Performance

The company has a market cap of C$35.15 billion, a price-to-earnings ratio of 14.84, a PEG ratio of -0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 39.21, a current ratio of 1.10 and a quick ratio of 0.97. The firm has a 50 day simple moving average of C$59.73 and a 200-day simple moving average of C$54.78.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.