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

Teck Resources Ltd (TSE:TECK.BGet Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$62.33 and traded as low as C$61.03. Teck Resources shares last traded at C$62.45, with a volume of 1,334,334 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on TECK.B shares. Scotiabank lifted their price target on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. CIBC cut their target price on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. Citigroup lifted their price target on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group cut their price objective on Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. Finally, National Bankshares lowered Teck Resources from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of C$76.18.

Get Our Latest Stock Analysis on TECK.B

Teck Resources Stock Up 2.4 %

The firm has a market cap of C$31.97 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The stock’s 50 day moving average is C$62.33 and its 200 day moving average is C$64.65. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

Teck Resources Company Profile

(Get Free Report)

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.

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