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

Teck Resources Ltd (TSE:TECK.B)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Desjardins raised their price target on the stock from C$65.00 to C$74.00. Desjardins currently has a hold rating on the stock. Teck Resources traded as high as C$76.55 and last traded at C$75.10, with a volume of 1364923 shares changing hands. The stock had previously closed at C$72.65.

A number of other equities analysts have also issued reports on the company. Raymond James Financial cut their target price on Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Citigroup upped their price target on shares of Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a 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 note on Wednesday, October 8th. TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$70.00 to C$76.00 in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus upped their target price on shares of Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Hold” and a consensus price target of C$66.69.

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 company’s fifty day moving average price is C$64.25 and its 200 day moving average price is C$57.13. The firm has a market capitalization of C$36.67 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth 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%.