Teck Resources (TSE:TECK.A) Sets New 1-Year High – Time to Buy?

Teck Resources Limited (TSE:TECK.A) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$76.63 and last traded at C$75.49, with a volume of 25809 shares trading hands. The stock had previously closed at C$73.00.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on Teck Resources from C$74.00 to C$80.00 in a research note on Monday, October 6th.

Teck Resources Price Performance

The firm has a market cap of C$36.86 billion, a P/E ratio of 30.32 and a beta of 1.91. The business’s fifty day simple moving average is C$64.43 and its 200-day simple moving average is C$57.49. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

Teck Resources (TSE:TECK.A) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.57 earnings per share for the quarter. Teck Resources had a return on equity of 5.03% and a net margin of 9.41%.The company had revenue of C$3.39 billion during the quarter. As a group, analysts forecast that Teck Resources Limited will post 2.5209386 EPS for the current fiscal year.

About Teck Resources

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.