Teck Resources (TSE:TECK.B) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$65.89 and traded as low as C$59.73. Teck Resources shares last traded at C$60.22, with a volume of 953,648 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TECK.B shares. Raymond James raised their target price on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. CIBC reduced their price objective on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Citigroup boosted their target price on Teck Resources from C$64.00 to C$74.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Canaccord Genuity Group reduced their price target on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Finally, Scotiabank upped their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$76.30.

Teck Resources Price Performance

The firm has a market capitalization of C$29.64 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The firm has a 50 day moving average price of C$65.96 and a 200-day moving average price of C$65.79.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.