Teck Resources (TSE:TECK.B) Hits New 1-Year High After Analyst Upgrade

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

A number of other research firms also recently issued reports on TECK.B. Eight Capital raised their price objective on shares of Teck Resources from C$65.00 to C$72.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. UBS Group lowered their price target on Teck Resources from C$64.00 to C$63.00 in a report on Wednesday, January 17th. National Bankshares upped their target price on shares of Teck Resources from C$66.00 to C$70.00 in a research report on Friday, February 23rd. Raymond James lifted 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. Finally, Bank of America increased their target price on Teck Resources from C$67.00 to C$88.00 in a report on Tuesday, April 9th. 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 an average price target of C$72.50.

Teck Resources Trading Up 1.8 %

The firm’s 50 day moving average price is C$59.73 and its 200-day moving average price is C$54.78. 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 stock has a market cap of C$35.15 billion, a P/E 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.