Teck Resources (NYSE:TECK) Reaches New 1-Year High – What’s Next?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.94 and last traded at $54.75, with a volume of 4915839 shares traded. The stock had previously closed at $53.01.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Teck Resources in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Benchmark reissued a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.33.

Teck Resources Price Performance

The firm has a market capitalization of $26.33 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.79. The business’s 50 day moving average is $46.40 and its two-hundred day moving average is $41.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TECK. Versant Capital Management Inc purchased a new position in Teck Resources during the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC grew its stake in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teck Resources during the 2nd quarter worth approximately $49,000. SouthState Bank Corp bought a new stake in Teck Resources during the 3rd quarter worth approximately $50,000. Finally, Tobam purchased a new stake in Teck Resources in the 2nd quarter worth approximately $62,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.