Teck Resources Limited [TECK] Stock trading around $22.16 per share: What’s Next?

Teck Resources Limited [NYSE: TECK] price plunged by -4.40 percent to reach at -$1.02. The company report on July 7, 2021 that Teck Provides Update on Wildfire Impacts in B.C.

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Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) provided an update on the effect of rail disruptions resulting from wildfires in British Columbia (B.C.).

Rail service between Teck’s steelmaking coal operations and west coast terminals has been disrupted due to damage to the rail line near Lytton, B.C. that occurred on June 30. Teck has implemented measures to mitigate the effect of the disruption, rerouting shipments to Ridley Terminals in Prince Rupert. Limited rail traffic flow to the Lower Mainland terminals was reinstituted the afternoon of July 5.

A sum of 3444649 shares traded at recent session while its average daily volume was at 5.36M shares. Teck Resources Limited shares reached a high of $23.52 and dropped to a low of $22.02 until finishing in the latest session at $22.16.

The one-year TECK stock forecast points to a potential upside of 31.01. The average equity rating for TECK stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Teck Resources Limited [TECK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TECK shares is $32.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TECK stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Deutsche Bank have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 26, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for Teck Resources Limited stock.

The Average True Range (ATR) for Teck Resources Limited is set at 0.83, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 0.57.

TECK Stock Performance Analysis:

Teck Resources Limited [TECK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.86. With this latest performance, TECK shares dropped by -10.39% in over the last four-week period, additionally plugging by 16.82% over the last 6 months – not to mention a rise of 105.76% 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 45.44, with the RSI for the last a single of trading hit 43.76, and the three-weeks RSI is set at 46.90 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 23.34, while it was recorded at 22.76 for the last single week of trading, and 19.26 for the last 200 days.

Insight into Teck Resources Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Teck Resources Limited [TECK] shares currently have an operating margin of +7.02 and a Gross Margin at +13.12. Teck Resources Limited’s Net Margin is presently recorded at -9.66.

Return on Total Capital for TECK is now 2.23, given the latest momentum, and Return on Invested Capital for the company is -3.17. Return on Equity for this stock declined to -4.18, with Return on Assets sitting at -2.14. When it comes to the capital structure of this company, Teck Resources Limited [TECK] has a Total Debt to Total Equity ratio set at 39.33. Additionally, TECK Total Debt to Total Capital is recorded at 28.23, with Total Debt to Total Assets ending up at 19.09. Long-Term Debt to Equity for the company is recorded at 38.16, with the Long-Term Debt to Total Capital now at 27.39.

Reflecting on the efficiency of the workforce at the company, Teck Resources Limited [TECK] managed to generate an average of -$86,400 per employee. Receivables Turnover for the company is 7.21 with a Total Asset Turnover recorded at a value of 0.22.Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.20.

TECK Stock EPS

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 -12.25%.

Teck Resources Limited [TECK] Insider Position Details

There are presently around $5,418 million, or 65.50% 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 21,371,056, which is approximately -6.108% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 13,669,136 shares of the stock with an approximate value of $302.91 million in TECK stocks shares; and LETKO, BROSSEAU & ASSOCIATES INC, currently with $222.71 million in TECK stock with ownership of nearly -25.698% of the company’s market capitalization.

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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 132 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 45,361,886 shares. Additionally, 121 investors decreased positions by around 39,193,433 shares, while 32 investors held positions by with 159,952,405 shares. The mentioned changes placed institutional holdings at 244,507,724 shares, according to the latest SEC report filing. TECK stock had 37 new institutional investments in for a total of 18,095,687 shares, while 38 institutional investors sold positions of 6,203,368 shares during the same period.

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