Teck Resources (TSE:TECK.B) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Teck Resources Ltd (TSE:TECK.B) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$59.79 and traded as low as C$55.68. Teck Resources shares last traded at C$56.26, with a volume of 993,817 shares traded.

Analyst Ratings Changes

TECK.B has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their target price on shares of Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Raymond James increased their price objective on shares of Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. National Bankshares lowered their target price on Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. Citigroup reduced their price target on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Jefferies Financial Group lowered their price target on Teck Resources from C$80.00 to C$70.00 in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Price Performance

The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The company has a market capitalization of C$27.45 billion, a P/E ratio of 19.22, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a 50 day moving average price of C$59.61 and a 200 day moving average price of C$62.81.

About Teck Resources

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.