Teck Resources (TSE:TECK.B) Reaches New 52-Week High on Analyst Upgrade

Shares of Teck Resources Ltd (TSE:TECK.B - Get Free Report) hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from C$70.00 to C$72.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Teck Resources traded as high as C$69.59 and last traded at C$68.88, with a volume of 261910 shares. The stock had previously closed at C$67.65.

Several other research analysts have also commented on the stock. Bank of America raised their price target on shares of Teck Resources from C$67.00 to C$88.00 in a report on Tuesday, April 9th. National Bankshares raised their price target on shares of Teck Resources from C$66.00 to C$70.00 in a report on Friday, February 23rd. Eight Capital raised their price target on shares of Teck Resources from C$65.00 to C$72.00 and gave the company a "buy" rating in a report on Monday. Raymond James raised their price target on shares of Teck Resources from C$64.00 to C$70.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on shares of Teck Resources from C$75.00 to C$80.00 and gave the company a "buy" rating in a research note on Friday, April 12th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teck Resources presently has a consensus rating of "Buy" and a consensus target price of C$72.50.

Teck Resources Trading Up 1.8 %

The company has a market cap of C$35.15 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of -0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 39.21, a current ratio of 1.10 and a quick ratio of 0.97. The firm's fifty day moving average price is C$59.73 and its 200-day moving average price is C$54.78.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.