Teck Resources (TSE:TECK.B) Stock Passes Above 200 Day Moving Average – What’s Next?

Teck Resources Ltd (TSE:TECK.B) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$60.65 and traded as high as C$81.31. Teck Resources shares last traded at C$81.28, with a volume of 1,413,410 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TECK.B. Canadian Imperial Bank of Commerce raised their target price on shares of Teck Resources from C$61.00 to C$77.00 in a research report on Wednesday, February 4th. Desjardins raised their price objective on Teck Resources from C$65.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, January 26th. Citigroup raised Teck Resources from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$76.00 to C$104.00 in a research report on Monday, February 2nd. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating and upped their target price for the stock from C$70.00 to C$76.00 in a report on Thursday, January 22nd. Finally, Jefferies Financial Group raised their price target on Teck Resources from C$71.00 to C$80.00 in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$75.00.

Teck Resources Price Performance

The company’s 50-day moving average price is C$70.96 and its two-hundred day moving average price is C$60.65. 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 company has a market capitalization of C$39.68 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of -0.38 and a beta of 2.06.

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. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%.