The stock of Teck Resources Ltd (USA) (NYSE:TCK) hit a new 52-week high and has $34.49 target or 58.00% above today’s $21.83 share price. The 9 months bullish chart indicates low risk for the $12.90 billion company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $34.49 price target is reached, the company will be worth $7.48 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.46 million shares traded hands. Teck Resources Ltd (USA) (NYSE:TCK) has risen 175.96% since March 30, 2016 and is uptrending. It has outperformed by 172.95% the S&P500.
Teck Resources Ltd (USA) (NYSE:TCK) Ratings Coverage
Out of 17 analysts covering Teck Resources (NYSE:TCK), 8 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 47% are positive. Teck Resources has been the topic of 28 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Scotia Capital maintained Teck Resources Ltd (USA) (NYSE:TCK) on Thursday, July 23 with “Sector Perform” rating. The rating was upgraded by Morgan Stanley on Thursday, September 15 to “Equal-Weight”. The firm has “Market Perform” rating given on Thursday, April 21 by FBR Capital. Deutsche Bank downgraded the shares of TCK in a report on Friday, October 23 to “Sell” rating. Deutsche Bank maintained the stock with “Hold” rating in Monday, October 5 report. On Thursday, March 24 the stock rating was downgraded by Raymond James to “Underperform”. The stock of Teck Resources Ltd (USA) (NYSE:TCK) earned “Buy” rating by Deutsche Bank on Friday, October 7. The firm earned “Buy” rating on Thursday, May 19 by Goldman Sachs. The firm earned “Market Perform” rating on Thursday, August 4 by Raymond James. The stock of Teck Resources Ltd (USA) (NYSE:TCK) has “Underperform” rating given on Tuesday, April 19 by CLSA.
According to Zacks Investment Research, “Teck Resources Limited is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. It is a world leader in the production of copper, metallurgical coal and zinc, a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets. Headquartered in Vancouver, Canada, the company has expertise across the full range of activities related to mining, including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling and research. The Company is actively exploring in countries throughout the Americas, Asia Pacific, Europe and Africa. Teck Resources Limited, formerly Teck Cominco Limited, is headquartered in Vancouver, Canada.”
More notable recent Teck Resources Ltd (USA) (NYSE:TCK) news were published by: Fool.ca which released: “Teck Resources Ltd.: Should You Buy Ahead of the Q3 Report?” on October 25, 2016, also Fool.ca with their article: “What’s Next for Teck Resources Ltd.?” published on October 20, 2016, Fool.ca published: “Teck Resources Ltd.: Next Stop $40?” on October 12, 2016. More interesting news about Teck Resources Ltd (USA) (NYSE:TCK) were released by: Fool.ca and their article: “Teck Resources Ltd.: Why Is the Rally so Strong?” published on September 29, 2016 as well as Fool.ca‘s news article titled: “Why Teck Resources Ltd. Wants its Credit Rating Back” with publication date: October 05, 2016.
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