Teck Resources (TSE:TECK.B) Stock Jumps 5.4% – Time to Buy?

Teck Resources Ltd (TSE:TECK.B)’s stock price traded up 5.4% during mid-day trading on Friday. The stock traded as high as C$97.16 and last traded at C$97.10. 1,648,817 shares traded hands during trading, an increase of 44% from the average session volume of 1,148,316 shares. The stock had previously closed at C$92.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Scotiabank lifted their price target on Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Canaccord Genuity Group dropped their price objective on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Raymond James Financial raised their target price on Teck Resources from C$93.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, National Bank Financial lifted their target price on Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average price target of C$87.90.

Teck Resources Price Performance

The stock has a market capitalization of C$47.64 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of -0.38 and a beta of 1.99. The business’s 50-day moving average price is C$93.41 and its 200 day moving average price is C$86.58. 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 Company Profile

Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.