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

Teck Resources Ltd (TSE:TECK.B) shares hit a new 52-week high during trading 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 traded. The stock had previously closed at C$67.65.

Other equities research analysts have also issued reports about the stock. Scotiabank increased their target price on shares of Teck Resources from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a report on Monday, January 15th. Canaccord Genuity Group upped their price target on shares of Teck Resources from C$59.00 to C$75.00 in a research report on Wednesday, April 17th. National Bankshares raised their price objective on shares of Teck Resources from C$66.00 to C$70.00 in a research report on Friday, February 23rd. B. Riley lowered their target price on shares of Teck Resources from C$72.00 to C$59.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group increased their price target on Teck Resources from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$72.50.

Teck Resources Stock Up 1.8 %

The business has a 50-day moving average price of C$59.39 and a 200 day moving average price of C$54.69. The company has a current ratio of 1.10, a quick ratio of 0.97 and a debt-to-equity ratio of 39.21. The stock has a market capitalization of C$35.14 billion, a P/E ratio of 14.80, a P/E/G 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.