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

Teck Resources Ltd (TSE:TECK.B)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$98.70 and last traded at C$98.67, with a volume of 385214 shares. The stock had previously closed at C$97.26.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TECK.B shares. National Bank Financial lifted their target price on shares of 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. Canaccord Genuity Group reduced their price objective 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. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$90.00 to C$93.00 in a report on Friday, July 24th. Finally, Scotiabank increased their target price on Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$84.27.

Teck Resources Price Performance

The firm has a 50-day moving average of C$86.48 and a 200-day moving average of C$82.15. 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 firm has a market capitalization of C$48.18 billion, a P/E ratio of 19.29, a PEG ratio of -0.38 and a beta of 1.80.

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%.