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

Teck Resources Ltd (TSE:TECK.B)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$59.79 and traded as low as C$55.68. Teck Resources shares last traded at C$56.26, with a volume of 993,817 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TECK.B. Raymond James boosted their price objective on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Canaccord Genuity Group dropped their price objective on shares of Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. National Bankshares decreased their target price on shares of Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. Citigroup dropped their price target on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Jefferies Financial Group cut their price target on shares of Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Price Performance

The company’s 50 day moving average price is C$59.61 and its 200 day moving average price is C$62.81. 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$27.45 billion, a P/E ratio of 19.22, a PEG ratio of -0.38 and a beta of 1.37.

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.