Teck Resources (TSE:TECK.B) Reaches New 1-Year High on Analyst Upgrade

Teck Resources Ltd (TSE:TECK.B)’s stock price reached a new 52-week high during trading on Tuesday after Desjardins raised their price target on the stock from C$65.00 to C$74.00. Desjardins currently has a hold rating on the stock. Teck Resources traded as high as C$76.55 and last traded at C$75.10, with a volume of 1364923 shares trading hands. The stock had previously closed at C$72.65.

A number of other research analysts have also issued reports on TECK.B. Jefferies Financial Group boosted their price objective on Teck Resources from C$71.00 to C$80.00 in a research report on Monday, January 12th. CIBC raised their target price on Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a research note on Thursday, November 27th. Stifel Nicolaus boosted their price target on shares of Teck Resources from C$60.00 to C$65.00 in a report on Tuesday, October 21st. Scotiabank increased their price objective on shares of Teck Resources from C$60.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, January 8th. Finally, Raymond James Financial cut their price objective on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and a consensus target price of C$66.69.

Teck Resources Stock Up 3.4%

The stock has a market cap of C$36.67 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03. 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’s 50-day moving average is C$64.25 and its 200-day moving average is C$57.13.

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%.