Teck Resources (TSE:TECK.B) Shares Cross Below Fifty Day Moving Average – Here’s Why

Teck Resources Ltd (TSE:TECK.B) shares 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup boosted their price target on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Canaccord Genuity Group decreased their price target on shares of Teck Resources from C$80.00 to C$78.00 in a report on Friday, October 25th. Raymond James increased their price objective 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 report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from C$78.00 to C$76.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$76.18.

Teck Resources Price Performance

The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a market capitalization of C$31.97 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a fifty day simple moving average of C$62.33 and a 200 day simple moving average of C$64.65.

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.