Teck Resources (NYSE:TECK) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $60.67 and traded as low as $59.85. Teck Resources shares last traded at $59.9510, with a volume of 4,900,638 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings lowered Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Stifel Nicolaus upped their target price on Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a research report on Tuesday, October 20th. Scotia upped their target price on Teck Resources from $83.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Finally, Wall Street Zen downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of $75.25.

Teck Resources Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 2.80. The stock’s 50-day simple moving average is $65.29 and its two-hundred day simple moving average is $60.72. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a C$0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 6.44%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 17.1% in the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after acquiring an additional 3,211,985 shares during the period. HBK Investments L P increased its position in Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after acquiring an additional 4,188,029 shares during the period. Temasek Holdings Private Ltd increased its position in Teck Resources by 7.1% during the first quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company’s stock worth $294,015,000 after acquiring an additional 378,069 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Teck Resources by 48.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock valued at $272,955,000 after purchasing an additional 1,720,066 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Teck Resources by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company’s stock valued at $268,261,000 after purchasing an additional 28,531 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications.

The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.

Teck traces its roots to mining operations established in the early 20th century.