Teck Resources (TSE:TECK.B) Hits New 52-Week High – Time to Buy?

Teck Resources Ltd (TSE:TECK.B)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$65.35 and last traded at C$64.21, with a volume of 156721 shares trading hands. The stock had previously closed at C$63.70.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from C$56.00 to C$60.00 in a research note on Thursday, October 9th. Stifel Nicolaus increased their price target on Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. National Bankshares downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$62.50 to C$65.00 in a research note on Wednesday, October 8th. Jefferies Financial Group cut their target price on Teck Resources from C$80.00 to C$71.00 in a research report on Monday, December 8th. Finally, Raymond James Financial lowered their target price on Teck Resources from C$64.00 to C$63.00 in a report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$63.54.

Teck Resources Stock Up 0.1%

The stock has a market cap of C$31.13 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of -0.38 and a beta of 1.80. The firm’s fifty day moving average price is C$59.98 and its two-hundred day moving average price is C$54.80. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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%.