Teck Resources (TSE:TECK.B) Hits New 1-Year High – Here’s What Happened
by Amy Steele · The Cerbat GemTeck Resources Ltd (TSE:TECK.B – Get Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as C$68.20 and last traded at C$67.85, with a volume of 247538 shares. The stock had previously closed at C$65.99.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Teck Resources from C$56.00 to C$60.00 in a research report on Thursday, October 9th. Raymond James Financial decreased their target price on shares of Teck Resources from C$64.00 to C$63.00 in a research report on Friday, October 10th. Jefferies Financial Group lowered their price target on Teck Resources from C$80.00 to C$71.00 in a research report on Monday, December 8th. Finally, Citigroup boosted their price objective on Teck Resources from C$55.00 to C$60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of C$63.54.
Check Out Our Latest Research Report on TECK.B
Teck Resources Price Performance
The stock has a 50-day moving average of C$60.97 and a two-hundred day moving average of C$55.52. The firm has a market cap of C$33.42 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of -0.38 and a beta of 2.03. 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 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%.