Teck Resources (TSE:TECK.B) Reaches New 52-Week High After Analyst Upgrade

Teck Resources Ltd (TSE:TECK.B) reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$75.00 to C$80.00. The stock traded as high as C$82.95 and last traded at C$82.65, with a volume of 136247 shares. The stock had previously closed at C$81.32.

Other equities research analysts have also issued reports about the stock. National Bank Financial boosted their price objective on shares of Teck Resources from C$70.00 to C$80.00 in a research report on Thursday, January 29th. TD Securities lifted their price objective on Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group upped their target price on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Stifel Nicolaus lifted their price target on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$76.33.

Teck Resources Trading Up 3.5%

The company has a 50-day moving average price of C$72.28 and a 200-day moving average price of C$61.65. The company has a market capitalization of C$41.40 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of -0.38 and a beta of 2.06. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

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%.