Teck Resources (TSE:TECK.B) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Analyst Ratings Changes

Several research firms have issued reports on TECK.B. National Bank Financial upped their price objective on Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Canadian Imperial Bank of Commerce lifted their target price on 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. Canaccord Genuity Group dropped their target price on 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 upped their price target on Teck Resources from C$80.00 to C$85.00 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$90.00 to C$93.00 in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$84.27.

Teck Resources Stock Performance

The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The firm has a market capitalization of C$45.50 billion, a P/E ratio of 18.22, a P/E/G ratio of -0.38 and a beta of 1.80. The stock’s 50 day moving average is C$86.17 and its two-hundred day moving average is C$80.76.

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%.