Teck Resources (TSE:TECK.B) Reaches New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on TECK.B shares. Jefferies Financial Group cut their target price on shares of Teck Resources from C$80.00 to C$71.00 in a research note on Monday, December 8th. National Bankshares cut Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$62.50 to C$65.00 in a research report on Wednesday, October 8th. Citigroup increased their target price on Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. CIBC lifted their price target on Teck Resources from C$57.00 to C$61.00 and gave the company a “buy” rating in a research report on Thursday, November 27th. Finally, Scotiabank lowered their price objective on Teck Resources from C$65.00 to C$60.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$63.54.

Teck Resources Trading Up 3.5%

The stock has a 50-day moving average of C$60.55 and a two-hundred day moving average of C$55.27. The company 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. 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 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%.