Teck Resources (TSE:TECK.B) Stock Crosses Below 50 Day Moving Average – Here’s Why

Shares of Teck Resources Ltd (TSE:TECK.B) passed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Wall Street Analyst Weigh In

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

Teck Resources Stock Down 1.9 %

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 stock has a market cap of C$28.81 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm has a 50 day simple moving average of C$59.79 and a two-hundred day simple moving average of C$62.85.

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.