Teck Resources (TSE:TECK.B) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Teck Resources Ltd (TSE:TECK.B – Get Free Report)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$85.97 and traded as high as C$89.48. Teck Resources shares last traded at C$88.17, with a volume of 627,988 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. National Bank Financial increased their price objective on shares of Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$90.00 to C$93.00 in a research report on Friday, July 24th. Scotiabank boosted their price target on Teck Resources from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Canaccord Genuity Group decreased their price objective on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research note on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Teck Resources from C$79.00 to C$83.00 and gave the company a “tender” rating in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$84.27.

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Teck Resources Price Performance

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 cap of C$43.26 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of -0.38 and a beta of 1.80. The stock has a fifty day moving average of C$85.97 and a 200 day moving average of C$81.45.

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. 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%.

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