Teck Resources Limited [NYSE: TECK] loss -3.61% or -0.5 points to close at $13.35 with a heavy trading volume of 5145332 shares. The company report on October 27, 2020 that Teck Reports Unaudited Third Quarter Results for 2020.
Progress on Priority Projects and Cost Reductions Throughout the Business.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced its third quarter 2020 results, and provided an update on the significant progress made to advance priority projects and reduce costs.
It opened the trading session at $13.60, the shares rose to $13.81 and dropped to $13.24, the range by which the price of stock traded the whole day. The daily chart for TECK points out that the company has recorded 64.61% gains over the past six months. However, it is still -138.39% lower than its most recent low trading price.
If we look at the average trading volume of 4.20M shares, TECK reached to a volume of 5145332 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Teck Resources Limited [TECK]:
National Bank Financial have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on July 21, 2020. The new note on the price target was released on April 22, 2020, representing the official price target for Teck Resources Limited stock. Previously, the target price had yet another raise to $14, while The Benchmark Company analysts kept a Buy rating on TECK stock.
The Average True Range (ATR) for Teck Resources Limited is set at 0.58, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.49.
Trading performance analysis for TECK stock
Teck Resources Limited [TECK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.33. With this latest performance, TECK shares dropped by -4.91% in over the last four-week period, additionally plugging by 64.61% over the last 6 months – not to mention a drop of -20.01% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TECK stock in for the last two-week period is set at 48.53, with the RSI for the last a single of trading hit 42.39, and the three-weeks RSI is set at 50.35 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 13.08, while it was recorded at 13.73 for the last single week of trading, and 11.05 for the last 200 days.
Teck Resources Limited [TECK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Teck Resources Limited [TECK] shares currently have an operating margin of +22.89 and a Gross Margin at +26.49. Teck Resources Limited’s Net Margin is presently recorded at -5.07.
Return on Total Capital for TECK is now 9.70, given the latest momentum, and Return on Invested Capital for the company is -2.19. Return on Equity for this stock declined to -2.74, with Return on Assets sitting at -1.53. When it comes to the capital structure of this company, Teck Resources Limited [TECK] has a Total Debt to Total Equity ratio set at 26.97. Additionally, TECK Total Debt to Total Capital is recorded at 21.24, with Total Debt to Total Assets ending up at 14.60. Long-Term Debt to Equity for the company is recorded at 26.08, with the Long-Term Debt to Total Capital now at 20.54.
Reflecting on the efficiency of the workforce at the company, Teck Resources Limited [TECK] managed to generate an average of -$59,901 per employee. Receivables Turnover for the company is 9.88 with a Total Asset Turnover recorded at a value of 0.30.Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.50.
Teck Resources Limited [TECK]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Teck Resources Limited posted 0.91/share EPS, while the average EPS was predicted by analysts to be reported at 1.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TECK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Teck Resources Limited go to -11.82%.
An analysis of insider ownership at Teck Resources Limited [TECK]
There are presently around $3,313 million, or 64.10% of TECK stock, in the hands of institutional investors. The top three institutional holders of TECK stocks are: ROYAL BANK OF CANADA with ownership of 22,495,579, which is approximately 2.136% of the company’s market cap and around 1.40% of the total institutional ownership; LETKO, BROSSEAU & ASSOCIATES INC, holding 15,781,678 shares of the stock with an approximate value of $210.69 million in TECK stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $204.54 million in TECK stock with ownership of nearly -17.847% of the company’s market capitalization.
Positions in Teck Resources Limited stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 113 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 36,470,247 shares. Additionally, 129 investors decreased positions by around 34,167,079 shares, while 26 investors held positions by with 177,561,433 shares. The mentioned changes placed institutional holdings at 248,198,759 shares, according to the latest SEC report filing. TECK stock had 38 new institutional investments in for a total of 18,826,100 shares, while 41 institutional investors sold positions of 6,653,677 shares during the same period.