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

Teck Resources Ltd (TSE:TECK.B)’s share price reached a new 52-week high 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.

TECK.B has been the topic of a number of other research reports. Jefferies Financial Group upped their price target on shares of Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. National Bank Financial raised their price objective on shares of Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Raymond James Financial boosted their price target on shares of Teck Resources from C$70.00 to C$77.00 in a research note on Monday. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and upped their price objective for the company from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Finally, Scotiabank increased their target price on shares of Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average price target of C$75.00.

Teck Resources Trading Up 3.6%

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 firm has a market capitalization of C$40.02 billion, a P/E ratio of 32.92, a PEG ratio of -0.38 and a beta of 2.06. The business has a 50 day moving average of C$68.73 and a 200-day moving average of C$59.28.

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%.