Teck Resources (TSE:TECK.B) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$84.33 and traded as low as C$83.90. Teck Resources shares last traded at C$83.93, with a volume of 1,539,373 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on TECK.B. Canaccord Genuity Group reduced their price target on Teck Resources from C$84.00 to C$81.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Raymond James Financial upped their price objective on Teck Resources from C$93.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Finally, National Bank Financial raised their price objective on Teck Resources from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Hold” and an average target price of C$87.90.

Teck Resources Stock Performance

The firm’s 50 day moving average is C$91.75 and its 200 day moving average is C$84.41. 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 cap of C$41.92 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of -0.38 and a beta of 1.77.

Teck Resources Company Profile

Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.