Teck Resources (TSE:TECK.B) Stock Passes Above 50-Day Moving Average – Should You Sell?

Teck Resources Ltd (TSE:TECK.B)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$86.15 and traded as high as C$93.57. Teck Resources shares last traded at C$92.76, with a volume of 920,573 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TECK.B shares. Canaccord Genuity Group dropped their target price on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Scotiabank lifted their price target on shares of Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Monday, June 15th. National Bank Financial increased their price objective on shares of Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce raised their target price on shares of Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research note on Friday, April 24th. Finally, Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$90.00 to C$93.00 in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Hold” and an average price target of C$84.27.

Teck Resources Trading Up 0.2%

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 firm has a market cap of C$45.51 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of -0.38 and a beta of 1.80. The business has a 50 day moving average price of C$86.15 and a 200-day moving average price of C$80.68.

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%.