Teck Resources (NYSE:TECK) Hits New 12-Month High – What’s Next?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $60.75 and last traded at $60.5150, with a volume of 2814947 shares trading hands. The stock had previously closed at $58.34.

Analyst Ratings Changes

Several research analysts recently issued reports on TECK shares. UBS Group reissued a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th. TD Securities cut Teck Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Finally, Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Teck Resources Trading Up 3.5%

The company’s 50-day moving average is $49.70 and its 200-day moving average is $42.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 0.58 and a beta of 0.80.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TECK. AQR Capital Management LLC boosted its holdings in Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock valued at $1,264,000 after acquiring an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Teck Resources by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after purchasing an additional 8,146 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Teck Resources by 16.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,091 shares of the basic materials company’s stock valued at $1,215,000 after purchasing an additional 4,259 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Teck Resources by 8.8% during the 2nd quarter. Yousif Capital Management LLC now owns 6,129 shares of the basic materials company’s stock worth $247,000 after buying an additional 495 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.