Teck Resources (TSE:TECK.B) Shares Pass Below Fifty Day Moving Average – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$62.33 and traded as low as C$61.03. Teck Resources shares last traded at C$62.45, with a volume of 1,334,334 shares trading hands.

Analysts Set New Price Targets

TECK.B has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. CIBC lowered their price target on Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Citigroup increased their price objective on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. National Bankshares cut Teck Resources from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$85.00 to C$77.50 in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their target price on Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.18.

Teck Resources Stock Performance

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 cap of C$31.97 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm’s 50-day moving average is C$62.33 and its two-hundred day moving average is C$64.65.

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.