Teck Resources (TSE:TECK.B) Sets New 52-Week High – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$91.77 and last traded at C$91.72, with a volume of 153712 shares. The stock had previously closed at C$90.45.

Analyst Upgrades and Downgrades

TECK.B has been the subject of several research reports. Canadian Imperial Bank of Commerce upped their price target on shares of Teck Resources from C$79.00 to C$83.00 and gave the stock a “tender” rating in a research report on Friday, April 24th. TD Securities upped their price objective on Teck Resources from C$76.00 to C$82.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Raymond James Financial raised their price objective on Teck Resources from C$78.00 to C$80.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$76.00 to C$104.00 in a report on Monday, February 2nd. Finally, Desjardins raised their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources has an average rating of “Hold” and an average price target of C$80.25.

Teck Resources Price Performance

The stock has a 50-day moving average price of C$75.36 and a two-hundred day moving average price of C$70.04. 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 stock has a market cap of C$44.52 billion, a price-to-earnings ratio of 24.12, a PEG ratio of -0.38 and a beta of 1.83.

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%.