Teck Resources (TSE:TECK.A) Hits New 1-Year High – Still a Buy?

Teck Resources Limited (TSE:TECK.A)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$74.50 and last traded at C$74.00, with a volume of 3392 shares. The stock had previously closed at C$69.60.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on shares of Teck Resources from C$74.00 to C$80.00 in a report on Monday, October 6th.

Teck Resources Stock Performance

The firm has a market capitalization of C$36.03 billion, a price-to-earnings ratio of 29.64 and a beta of 1.91. The firm’s 50-day moving average price is C$63.26 and its two-hundred day moving average price is C$56.94. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

Teck Resources (TSE:TECK.A) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.57 earnings per share (EPS) for the quarter. The firm had revenue of C$3.39 billion for the quarter. Teck Resources had a net margin of 9.41% and a return on equity of 5.03%. Sell-side analysts predict that Teck Resources Limited will post 2.5209386 earnings per share for the current year.

About Teck Resources

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%.