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

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

Analysts Set New Price Targets

TECK.B has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce raised their price target on Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Scotiabank increased their price target on Teck Resources from C$60.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. National Bank Financial lifted their price target on Teck Resources from C$70.00 to C$80.00 in a report on Thursday, January 29th. Stifel Nicolaus lifted their price objective on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group upped their target price on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$75.00.

Teck Resources Stock Performance

The stock has a 50 day moving average of C$71.39 and a 200 day moving average of C$61.14. The company has a market capitalization of C$39.36 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth 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%.