Teck Resources (TSE:TECK.B) Shares Cross 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 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TECK.B shares. Citigroup reduced their price target on 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. Scotiabank dropped their price objective on 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. Raymond James lifted their price objective on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. National Bankshares dropped their price objective on Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price objective on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of C$76.29.

Teck Resources Stock Up 6.6 %

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 capitalization of C$30.52 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm 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.