Teck Resources (TSE:TECK.B) Reaches New 12-Month High - What's Next?

Key Points

• New 52‑week high: TECK.B traded as high as C$87.40 intraday and last at C$86.25 on Thursday, on volume of 270,314 shares.
• Analyst sentiment remains a consensus "Hold" with a MarketBeat average target of C$80.25; several firms recently raised price targets (up to C$92.50) and the street shows two Buys and eight Holds.
• Company profile and fundamentals: Teck has a market cap of C$40.72 billion and a P/E of 22.06, is a leading metallurgical coal and zinc miner and is expanding copper output via the Quebrada Blanca 2 project, which should increase attributable copper production by about 80%.

Teck Resources Ltd (TSE:TECK.B - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$87.40 and last traded at C$86.25, with a volume of 270314 shares traded. The stock had previously closed at C$84.55.

Analyst Ratings Changes

Several analysts have issued reports on TECK.B shares. Raymond James Financial raised their price target on shares of Teck Resources from C$78.00 to C$80.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Stifel Nicolaus raised their price target on shares of Teck Resources from C$65.00 to C$80.00 and gave the stock a "hold" rating in a research report on Wednesday, February 11th. Desjardins raised their price target on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a "hold" rating in a research report on Monday, January 26th. National Bank Financial raised their price objective on shares of Teck Resources from C$90.00 to C$92.50 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Finally, Canaccord Genuity Group raised their price objective on shares of Teck Resources from C$78.00 to C$85.50 and gave the stock a "hold" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources has an average rating of "Hold" and a consensus target price of C$80.25.

Teck Resources Stock Performance

The stock has a market capitalization of C$40.72 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of -0.38 and a beta of 1.83. 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's 50-day simple moving average is C$74.91 and its 200 day simple moving average is C$69.26.

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%.

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