Teck Resources Limited [TECK] is 25.67% higher this YTD. Is it still time to buy?

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Teck Resources Limited [NYSE: TECK] price plunged by -3.65 percent to reach at -$1.36. The company report on April 11, 2022 that Teck Provides Steelmaking Coal Sales and Pricing Update.

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Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided unaudited first quarter 2022 steelmaking coal sales volumes and realized prices in light of the impacts of recent logistics disruptions in British Columbia, Canada.

The recent CP work stoppage interrupted rail service to our steelmaking coal operations in the Elk Valley in Southeastern British Columbia. As a result, our realized first quarter steelmaking coal sales were 6.0 million tonnes, slightly below the low end of our previously announced guidance of 6.1 – 6.5 million tonnes. Record steelmaking coal FOB prices resulted in an increase in our average realized steelmaking coal price in the first quarter to US$357 per tonne. The increase in steelmaking coal prices from the fourth quarter further resulted in positive pricing adjustments of approximately $88 million.

A sum of 9873470 shares traded at recent session while its average daily volume was at 5.82M shares. Teck Resources Limited shares reached a high of $36.10 and dropped to a low of $34.14 until finishing in the latest session at $35.88.

The one-year TECK stock forecast points to a potential upside of 37.23. The average equity rating for TECK stock is currently 2.10, 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 $57.16 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 Hold, with their previous recommendation back on April 19, 2022. The new note on the price target was released on March 09, 2022, representing the official price target for Teck Resources Limited stock.

The Average True Range (ATR) for Teck Resources Limited is set at 2.09, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 1.83. Price to Free Cash Flow for TECK in the course of the last twelve months was 47.87 with Quick ratio for the last quarter at 1.00.

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 -19.17. With this latest performance, TECK shares dropped by -11.71% in over the last four-week period, additionally plugging by 30.14% over the last 6 months – not to mention a rise of 60.54% 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 38.27, with the RSI for the last a single of trading hit 31.44, and the three-weeks RSI is set at 42.58 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 39.16, while it was recorded at 39.97 for the last single week of trading, and 29.76 for the last 200 days.

Insight into Teck Resources Limited Fundamentals:

Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.60.

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 38.76%.

Teck Resources Limited [TECK] Insider Position Details

There are presently around $9,965 million, or 68.20% of TECK stock, in the hands of institutional investors. The top three institutional holders of TECK stocks are: DODGE & COX with ownership of 24,098,340, which is approximately 3.563% of the company’s market cap and around 1.40% of the total institutional ownership; ROYAL BANK OF CANADA, holding 23,606,396 shares of the stock with an approximate value of $879.1 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $539.37 million in TECK stock with ownership of nearly 2.391% of the company’s market capitalization.

Positions in Teck Resources Limited stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 192 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 48,118,207 shares. Additionally, 144 investors decreased positions by around 36,812,439 shares, while 39 investors held positions by with 182,668,845 shares. The mentioned changes placed institutional holdings at 267,599,491 shares, according to the latest SEC report filing. TECK stock had 84 new institutional investments in for a total of 19,850,603 shares, while 32 institutional investors sold positions of 10,687,232 shares during the same period.