Teck Resources (NYSE:TECK) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $60.19 and traded as high as $60.60. Teck Resources shares last traded at $60.2480, with a volume of 2,729,672 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Stifel Nicolaus boosted their price target on Teck Resources from $82.00 to $95.00 and gave the company a “hold” rating in a report on Tuesday, October 20th. Weiss Ratings cut Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.80.

Teck Resources Trading Up 0.9%

The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $66.32 and a 200-day simple moving average of $60.32. The company has a market cap of $30.36 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01.

Institutional Trading of Teck Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of Teck Resources by 7.7% in the third quarter. Signaturefd LLC now owns 22,786 shares of the basic materials company’s stock valued at $1,499,000 after purchasing an additional 1,629 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Teck Resources by 101.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 900 shares of the basic materials company’s stock worth $59,000 after buying an additional 454 shares in the last quarter. Kapitalo Investimentos Ltda boosted its position in Teck Resources by 23.7% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 436,487 shares of the basic materials company’s stock valued at $28,716,000 after buying an additional 83,628 shares during the period. Genesee Capital Advisors LLC purchased a new position in Teck Resources in the 3rd quarter valued at approximately $259,000. Finally, Vontobel Holding Ltd. boosted its holdings in Teck Resources by 8.3% in the third quarter. Vontobel Holding Ltd. now owns 111,052 shares of the basic materials company’s stock valued at $7,312,000 after purchasing an additional 8,503 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.