Teck Resources (NYSE:TECK) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $60.94 and traded as low as $60.05. Teck Resources shares last traded at $60.2290, with a volume of 1,175,763 shares trading hands.

Analysts Set New Price Targets

TECK has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Teck Resources from $47.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, November 4th. Stifel Nicolaus lifted their price objective on Teck Resources from $82.00 to $95.00 and gave the company a “hold” rating in a report on Tuesday, October 20th. Finally, Wall Street Zen downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.25.

Teck Resources Price Performance

The firm has a market cap of $29.11 billion, a P/E ratio of 10.77, a PEG ratio of 1.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.18. The company’s 50-day moving average is $64.74 and its two-hundred day moving average is $60.94.

Teck Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a C$0.12 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s payout ratio is presently 6.44%.

Institutional Trading of Teck Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in shares of Teck Resources during the 3rd quarter worth $252,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Teck Resources by 18.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 781,733 shares of the basic materials company’s stock valued at $51,436,000 after acquiring an additional 123,594 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Teck Resources by 44.1% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,143 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 350 shares during the last quarter. First Trust Advisors LP grew its position in Teck Resources by 2.0% in the third quarter. First Trust Advisors LP now owns 27,940 shares of the basic materials company’s stock valued at $1,838,000 after acquiring an additional 553 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in Teck Resources in the third quarter valued at about $291,000. 78.06% of the stock is currently owned by institutional investors.

About Teck Resources

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.