Canaccord Genuity lifts Teck Resources Limited [TECK] price estimate. Who else is bullish?


Teck Resources Limited [NYSE: TECK] loss -8.31% on the last trading session, reaching $36.62 price per share at the time. The company report on May 3, 2022 that YVR Partners with Teck to Become Canada’s First Airport with Antimicrobial Copper Surfaces to Protect Passenger Health.

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Vancouver International Airport (YVR) and Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced a partnership through YVR’s Innovation Hub and Teck’s Copper & Health program to install antimicrobial copper on high-touch surfaces to help protect the health and safety of travellers, visitors and staff. With this installation, YVR is the first airport in Canada to incorporate antimicrobial copper, which is proven to continuously kill bacteria and reduce the spread of infection.

Through the partnership, nearly 1,000 antimicrobial copper applications have already been installed on baggage carts, water fountains and washrooms throughout the terminal as well as YVR’s offices, with plans to expand the installation of antimicrobial copper at YVR, Canada’s second busiest airport. Partnering with Teck’s Copper & Health program adds an extra layer of reassurance to help YVR deliver a safe, healthy and seamless experience for everyone travelling through the airport.

Teck Resources Limited represents 535.80 million in outstanding shares, while the company has a total market value of $20.22 billion with the latest information. TECK stock price has been found in the range of $36.32 to $38.63.

If compared to the average trading volume of 6.18M shares, TECK reached a trading volume of 8445356 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 $59.24 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 2.26, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.62. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 3.48. Price to Free Cash Flow for TECK in the course of the last twelve months was 12.87 with Quick ratio for the last quarter at 1.30.

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 -7.20. With this latest performance, TECK shares dropped by -7.36% in over the last four-week period, additionally plugging by 36.46% over the last 6 months – not to mention a rise of 46.17% 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 41.99, with the RSI for the last a single of trading hit 37.86, and the three-weeks RSI is set at 44.70 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 39.84, while it was recorded at 40.13 for the last single week of trading, and 30.65 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 +32.11 and a Gross Margin at +36.09. Teck Resources Limited’s Net Margin is presently recorded at +21.27.

Return on Equity for this stock inclined to 13.33, with Return on Assets sitting at 6.47.

Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.90.

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 $9,938 million, or 67.20% 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 $864.47 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $530.39 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 206 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 51,246,090 shares. Additionally, 152 investors decreased positions by around 35,044,875 shares, while 40 investors held positions by with 185,097,397 shares. The mentioned changes placed institutional holdings at 271,388,362 shares, according to the latest SEC report filing. TECK stock had 97 new institutional investments in for a total of 21,909,615 shares, while 33 institutional investors sold positions of 10,005,281 shares during the same period.