Teck Resources (TSE:TECK.B) Shares Climb 5.4% – What’s Next?

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TECK.B shares. Canaccord Genuity Group lowered their price objective on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a report on Friday, July 24th. National Bank Financial boosted their price objective on shares of Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. 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. Finally, Raymond James Financial raised their target price on shares of 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. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$87.90.

Teck Resources Stock Up 5.4%

The firm has a market cap of C$47.64 billion, a P/E ratio of 19.08, a PEG ratio of -0.38 and a beta of 1.99. The company’s 50 day simple moving average is C$93.41 and its 200-day simple moving average is C$86.58. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

About Teck Resources

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.