Teck Resources Limited [NYSE: TECK] gained 3.97% or 1.24 points to close at $32.44 with a heavy trading volume of 4028643 shares. The company report on December 6, 2021 that Teck Provides Update on Severe Weather Impacts in British Columbia.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided an update to sales and production guidance, related to logistics disruptions caused by heavy rain, flooding and mudslides in British Columbia, Canada.
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B.C. Logistics Disruptions Rail service between west coast terminals and Teck’s B.C. operations remains impacted by recent heavy rains and flooding, with both CN and CP operating at reduced levels following service interruptions.
It opened the trading session at $31.42, the shares rose to $32.46 and dropped to $31.15, the range by which the price of stock traded the whole day. The daily chart for TECK points out that the company has recorded 43.67% gains over the past six months. However, it is still -87.41% lower than its most recent low trading price.
If we look at the average trading volume of 4.00M shares, TECK reached to a volume of 4028643 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TECK shares is $41.12 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 2.10. 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.
Canaccord Genuity have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 10, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on December 14, 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 1.81. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.60.
Trading performance analysis for TECK stock
Teck Resources Limited [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.10. With this latest performance, TECK shares gained by 19.18% in over the last four-week period, additionally plugging by 43.67% over the last 6 months – not to mention a rise of 65.34% 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 78.52, with the RSI for the last a single of trading hit 86.04, and the three-weeks RSI is set at 72.19 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 27.73, while it was recorded at 30.51 for the last single week of trading, and 24.52 for the last 200 days.
Teck Resources Limited [TECK]: A deeper dive into fundamental analysis
Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.40.
Teck Resources Limited [TECK]: An earnings per share (EPS) analysis
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 38.76%.
An analysis of insider ownership at Teck Resources Limited [TECK]
There are presently around $8,370 million, or 68.40% 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 23,543,421, which is approximately 0.447% of the company’s market cap and around 1.40% of the total institutional ownership; DODGE & COX, holding 23,269,340 shares of the stock with an approximate value of $754.86 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $458.88 million in TECK stock with ownership of nearly 3.044% of the company’s market capitalization.
Positions in Teck Resources Limited stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 153 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 46,154,333 shares. Additionally, 134 investors decreased positions by around 27,743,894 shares, while 33 investors held positions by with 184,110,428 shares. The mentioned changes placed institutional holdings at 258,008,655 shares, according to the latest SEC report filing. TECK stock had 52 new institutional investments in for a total of 13,876,197 shares, while 35 institutional investors sold positions of 4,944,774 shares during the same period.