Teck Resources (TSE:TECK.B) Hits New 12-Month High – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B)’s share price hit a new 52-week high on Thursday . The company traded as high as C$86.07 and last traded at C$85.97, with a volume of 385735 shares traded. The stock had previously closed at C$81.05.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Desjardins boosted their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group lifted their target price on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. Canadian Imperial Bank of Commerce increased their price target on Teck Resources from C$61.00 to C$77.00 in a report on Wednesday, February 4th. National Bank Financial raised their price objective on shares of Teck Resources from C$85.00 to C$90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 15th. Finally, Scotiabank lifted their price objective on shares of Teck Resources from C$70.00 to C$75.00 in a research note on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating and six have given 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$78.73.

Teck Resources Price Performance

The business has a 50-day moving average of C$74.87 and a 200 day moving average of C$68.05. 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$41.49 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of -0.38 and a beta of 1.82.

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%.