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

Teck Resources Ltd (TSE:TECK.B) hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at C$67.65.

TECK.B has been the topic of a number of other research reports. National Bankshares boosted their target price on Teck Resources from C$66.00 to C$70.00 in a research report on Friday, February 23rd. Eight Capital boosted their price target on shares of Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Raymond James boosted their price target on shares of Teck Resources from C$64.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 23rd. B. Riley dropped their price target on shares of Teck Resources from C$72.00 to C$59.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, UBS Group dropped their price target on shares of Teck Resources from C$64.00 to C$63.00 in a research note on Wednesday, January 17th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$71.91.

Teck Resources Trading Up 1.8 %

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 business’s 50 day moving average is C$59.73 and its 200 day moving average is C$54.77. The stock 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.

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.