Teck Resources (TSE:TECK.B) Sets New 1-Year High - Time to Buy?

Key Points

• Teck Resources hit a new 52-week high of C$86.07 (last C$85.97) on Thursday, trading up roughly 4.6% with about 385,735 shares changing hands.
• Wall Street holds a consensus rating of "Hold" with an average target price of C$78.73, even after several analysts raised their targets (four Buys, six Holds).
• Teck is a diversified miner where metallurgical coal drives most EBITDA, and its majority-owned Quebrada Blanca 2 copper project in Chile is expected to boost attributable copper production by about 80%.

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$86.07 and last traded at C$85.97, with a volume of 385735 shares changing hands. The stock had previously closed at C$81.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TECK.B shares. Scotiabank raised their target price on Teck Resources from C$70.00 to C$75.00 in a report on Tuesday, April 14th. TD Securities raised their target price on shares of Teck Resources from C$76.00 to C$82.00 and gave the company a "hold" rating in a research report on Monday, February 23rd. Raymond James Financial raised their price objective on Teck Resources from C$70.00 to C$77.00 in a report on Monday, February 9th. Stifel Nicolaus boosted their price objective on 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. Finally, Desjardins upped their target price on Teck Resources from C$65.00 to C$74.00 and gave the stock a "hold" rating in a report on Monday, January 26th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$78.73.

Teck Resources Trading Up 4.6%

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 company has a market cap of C$41.49 billion, a price-to-earnings ratio of 29.95, a PEG ratio of -0.38 and a beta of 1.82. The firm has a 50 day moving average price of C$74.87 and a two-hundred day moving average price of C$68.05.

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%.

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