Teck Resources (TSE:TECK.B) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Teck Resources Ltd (TSE:TECK.B) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$75.03 and traded as low as C$67.68. Teck Resources shares last traded at C$68.46, with a volume of 556,508 shares traded.

Analyst Upgrades and Downgrades

TECK.B has been the topic of several research reports. Desjardins boosted their price objective on shares of Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce lifted their price target on Teck Resources from C$61.00 to C$77.00 in a research note on Wednesday, February 4th. Jefferies Financial Group boosted their price target on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. National Bank Financial upped their price objective on Teck Resources from C$70.00 to C$80.00 in a research report on Thursday, January 29th. Finally, Stifel Nicolaus increased their price objective on Teck Resources from C$65.00 to C$80.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Hold” and an average price target of C$76.33.

Teck Resources Stock Down 3.0%

The firm’s 50 day simple moving average is C$74.92 and its 200-day simple moving average is C$64.71. 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 stock has a market capitalization of C$31.83 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of -0.38 and a beta of 1.92.

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. 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%.