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

Shares of Teck Resources Ltd (TSE:TECK.B) reached a new 52-week high during 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 traded. The stock had previously closed at C$95.59.

Analyst Ratings Changes

Several research firms have recently issued reports on TECK.B. Scotiabank increased their price objective on shares of Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a report on Monday, June 15th. Canaccord Genuity Group cut their target price on 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 upped their target price on Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Finally, Raymond James Financial increased their price target on Teck Resources from C$93.00 to C$105.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average price target of C$85.36.

Teck Resources Trading Up 4.1%

The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The stock has a market capitalization of C$48.81 billion, a P/E ratio of 19.55, a PEG ratio of -0.38 and a beta of 1.84. The firm’s 50-day simple moving average is C$88.19 and its 200 day simple moving average is C$83.38.

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%.