You may get higher quality then you get now but you can never retain the original image quality if you resize it. There are few factors for doing that when using the resize function:
1) You have to choose a filter according to the image you are working with - for photos Bicubic/Bilinear are the best.
2) When Scale up photo Bicubic usually gives the best quality while when Scaling down photo Bilinear is usually better.
3) If you wish to keep high quality when saving the image you have to use as much as less compression. 24/32 Bit PNG file format is a good choice - it keeps on high quality with reasonable compression. If you need more compression and you are using jpeg format you can loose some of the quality after saving and re-open the image.