Teck Resources (TSE:TECK.B) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$60.65 and traded as high as C$81.31. Teck Resources shares last traded at C$81.28, with a volume of 1,413,410 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TECK.B. Jefferies Financial Group upped their target price on Teck Resources from C$71.00 to C$80.00 in a report on Monday, January 12th. National Bank Financial increased their price objective on shares of Teck Resources from C$70.00 to C$80.00 in a research note on Thursday, January 29th. Desjardins lifted their target price on shares of Teck Resources from C$65.00 to C$74.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus upped their price target on shares of Teck Resources from C$65.00 to C$80.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Finally, Raymond James Financial raised their price objective on shares of Teck Resources from C$70.00 to C$77.00 in a research note on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$75.00.

Teck Resources Price Performance

The business’s 50-day simple moving average is C$71.39 and its 200 day simple moving average is C$60.91. The company has a market capitalization of C$39.70 billion, a P/E ratio of 32.66, a P/E/G ratio of -0.38 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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. 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%.