Teck Resources (TSE:TECK.B) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$60.11 and traded as low as C$57.20. Teck Resources shares last traded at C$59.61, with a volume of 1,413,710 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECK.B. Jefferies Financial Group reduced their price target on shares of Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Scotiabank reduced their price target on shares of Teck Resources from C$75.00 to C$73.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. National Bankshares reduced their price target on shares of Teck Resources from C$77.50 to C$75.00 and set a "sector perform" rating for the company in a research report on Thursday, January 30th. Citigroup reduced their price target on shares of Teck Resources from C$74.00 to C$68.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Finally, Raymond James raised their price target on shares of Teck Resources from C$70.00 to C$75.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and an average price target of C$76.29.

Remove Ads

Teck Resources Stock Down 2.0 %

The business's 50 day moving average is C$60.06 and its 200-day moving average is C$63.39. The stock has a market cap of C$29.29 billion, a price-to-earnings ratio of 20.51, a PEG ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

Teck Resources Company Profile

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.