Teck Resources Ltd (NYSE:TECK) traded at a new 52-week high today of $40.48. So far today approximately 1.4 million shares have been exchanged, as compared to an average 30-day volume of 5.8 million shares.
In the past 52 weeks, Teck Resources Ltd share prices are bracketed by a low of $17.30 and a high of $40.48 and is now at $39.92, 131% above that low price.
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%. Along with a number of additional copper growth options, Teck's strategy is to rebalance its portfolio to low carbon metals such as copper.
Based on a current price of $39.92, Teck Resources Ltd is currently 2.9% above its average consensus analyst price target of $38.77.
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