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

Shares of Teck Resources Ltd (TSE:TECK.B – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$99.82 and last traded at C$98.96, with a volume of 183920 shares trading hands. The stock had previously closed at C$95.59.

Analysts Set New Price Targets

TECK.B has been the subject of several recent research reports. Canaccord Genuity Group lowered their price target on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th. National Bank Financial lifted their price objective on shares of Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Scotiabank boosted their target price on shares of Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Finally, Raymond James Financial upped their target price on shares of Teck Resources from C$93.00 to C$105.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Three research 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, Teck Resources currently has an average rating of “Hold” and a consensus price target of C$85.36.

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Teck Resources Stock Up 4.1%

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 50-day simple moving average of C$88.19 and a 200-day simple moving average of C$83.38. The company has a market cap of C$48.81 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of -0.38 and a beta of 1.84.

Teck Resources Company Profile

(Get Free Report)

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%.

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