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

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. The stock had previously closed at C$67.65.

Other equities analysts have also issued research reports about the stock. UBS Group cut their price target on shares of Teck Resources from C$64.00 to C$63.00 in a report on Wednesday, January 17th. B. Riley reduced their price target on Teck Resources from C$72.00 to C$59.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Jefferies Financial Group increased their price target on 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. Raymond James lifted their price objective on Teck Resources from C$64.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, National Bankshares increased their target price on shares of Teck Resources from C$66.00 to C$70.00 in a research report on Friday, February 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$72.50.

Teck Resources Stock Performance

The company’s 50 day moving average price is C$59.39 and its 200-day moving average price is C$54.69. The stock has a market cap of C$35.14 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of -0.38 and a beta of 1.44. The company has a debt-to-equity ratio of 39.21, a quick ratio of 0.97 and a current ratio of 1.10.

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.