Teck Resources (TSE:TECK.B) Sets New 12-Month High on Analyst Upgrade

Shares of Teck Resources Ltd (TSE:TECK.B) reached 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 trading hands. The stock had previously closed at C$67.65.

A number of other research firms also recently issued reports on TECK.B. Bank of America raised their price target on Teck Resources from C$67.00 to C$88.00 in a research note on Tuesday, April 9th. UBS Group lowered their target price on Teck Resources from C$64.00 to C$63.00 in a research report on Wednesday, January 17th. Raymond James raised their price target on Teck Resources from C$64.00 to C$70.00 and gave the company an “outperform” rating in a report on Tuesday, April 23rd. National Bankshares raised their price target on Teck Resources from C$66.00 to C$70.00 in a report on Friday, February 23rd. Finally, B. Riley reduced their target price on Teck Resources from C$72.00 to C$59.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$71.91.

Teck Resources Stock Performance

The business has a fifty day simple moving average of C$59.73 and a two-hundred day simple moving average of C$54.77. 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 company has a market cap of C$35.15 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of -0.38 and a beta of 1.44.

Teck Resources Company Profile

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.