Teck Resources Limited [TECK] Stock trading around $21.83 per share: What’s Next?

Teck Resources Limited [NYSE: TECK] surged by $0.84 during the normal trading session on Monday and reaching a high of $22.335 during the day while it closed the day at $21.83. The company report on July 14, 2021 that Teck Releases Climate Change Outlook 2021 Report.

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) released its third TCFD-aligned climate change report, Climate Change Outlook 2021, outlining how Teck will continue to create shareholder value by producing metals and materials that are essential for a low-carbon future while also taking steps to reduce emissions to achieve the goal of being a carbon-neutral operator by 2050.

“Teck is taking significant steps to address climate change risks because we know all sectors, including mining, need to play an active role in contributing to solving the challenge of climate change,” said Marcia Smith, Senior Vice President, Sustainability and External Affairs. “We are working to reduce the carbon footprint of our operations, while at the same time rebalancing our portfolio towards copper, which is an essential metal for low-carbon technology and infrastructure.”.

Teck Resources Limited stock has also gained 9.04% of its value over the past 7 days. However, TECK stock has declined by -3.24% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.70% and gained 20.28% year-on date.

The market cap for TECK stock reached $11.72 billion, with 531.30 million shares outstanding and 523.88 million shares in the current float. Compared to the average trading volume of 5.46M shares, TECK reached a trading volume of 5581683 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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.

BofA Securities have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 08, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $20 to $30. The new note on the price target was released on May 26, 2021, representing the official price target for Teck Resources Limited stock.

The Average True Range (ATR) for Teck Resources Limited is set at 0.94, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.61. 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 0.55.

TECK stock trade performance evaluation

Teck Resources Limited [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.04. With this latest performance, TECK shares dropped by -3.79% in over the last four-week period, additionally plugging by 9.70% over the last 6 months – not to mention a rise of 95.43% 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 48.28, with the RSI for the last a single of trading hit 50.50, and the three-weeks RSI is set at 47.94 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 22.89, while it was recorded at 21.03 for the last single week of trading, and 19.81 for the last 200 days.

Teck Resources Limited [TECK]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Teck Resources Limited [TECK] stock

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 Ownership positions

There are presently around $5,330 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 $298.4 million in TECK stocks shares; and LETKO, BROSSEAU & ASSOCIATES INC, currently with $219.39 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 133 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 44,997,506 shares. Additionally, 120 investors decreased positions by around 39,487,928 shares, while 32 investors held positions by with 159,693,228 shares. The mentioned changes placed institutional holdings at 244,178,662 shares, according to the latest SEC report filing. TECK stock had 36 new institutional investments in for a total of 18,007,141 shares, while 37 institutional investors sold positions of 5,919,503 shares during the same period.

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