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

Teck Resources Ltd (TSE:TECK.B) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$60.11 and traded as low as C$57.20. Teck Resources shares last traded at C$59.61, with a volume of 1,413,710 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. National Bankshares decreased their target price on Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group lowered their price target on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Scotiabank lowered their price target on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Raymond James lifted their price target on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Citigroup lowered their price target on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a 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. According to MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Trading Up 6.6 %

The stock has a market cap of C$30.52 billion, a price-to-earnings ratio of 21.37, a PEG ratio of -0.38 and a beta of 1.37. 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 business has a 50-day moving average of C$60.11 and a 200-day moving average of C$63.50.

About Teck Resources

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.