Teck Resources (TSE:TECK.B) Share Price Crosses Below 50 Day Moving Average - What's Next?

Shares of Teck Resources Ltd (TSE:TECK.B - Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$59.79 and traded as low as C$55.68. Teck Resources shares last traded at C$56.26, with a volume of 993,817 shares.

Analysts Set New Price Targets

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

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Teck Resources Trading Up 0.3 %

The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The stock has a market capitalization of C$26.91 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a fifty day simple moving average of C$59.19 and a two-hundred day simple moving average of C$62.70.

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.