Teck Resources (TSE:TECK.B) Reaches New 12-Month High – Time to Buy?

Teck Resources Ltd (TSE:TECK.B) shares hit a new 52-week high on Monday . The company traded as high as C$68.20 and last traded at C$67.85, with a volume of 247538 shares. The stock had previously closed at C$65.99.

Wall Street Analyst Weigh In

TECK.B has been the topic of several recent research reports. National Bankshares lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$62.50 to C$65.00 in a report on Wednesday, October 8th. Citigroup upped their price target on shares of Teck Resources from C$55.00 to C$60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. CIBC raised their price objective 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. Raymond James Financial decreased their price objective on Teck Resources from C$64.00 to C$63.00 in a report on Friday, October 10th. Finally, Jefferies Financial Group dropped their target price on Teck Resources from C$80.00 to C$71.00 in a report on Monday, December 8th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$63.54.

Teck Resources Price Performance

The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The business has a 50-day simple moving average of C$60.55 and a 200 day simple moving average of C$55.27. The firm has a market cap of C$33.36 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03.

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%.