Teck Resources Limited [TECK] gain 55.44% so far this year. What now?


Teck Resources Limited [NYSE: TECK] gained 4.77% or 2.02 points to close at $44.38 with a heavy trading volume of 5060190 shares. The company report on June 2, 2022 that Toronto Stock Exchange Announces Launch of S&P/TSX Battery Metals Index.

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TSX to host market open ceremony on June 7 to celebrate the launch .

Toronto Stock Exchange (TSX) announced today the launch of the S&P/TSX Battery Metals Index. The new index measures the performance of TSX and TSX Venture Exchange listed companies that are focused on the production and exploration of select metals, which are significant inputs in the decarbonization of the transportation sector.

It opened the trading session at $42.87, the shares rose to $45.47 and dropped to $42.87, the range by which the price of stock traded the whole day. The daily chart for TECK points out that the company has recorded 72.11% gains over the past six months. However, it is still -131.87% lower than its most recent low trading price.

If we look at the average trading volume of 5.89M shares, TECK reached to a volume of 5060190 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 2.00. 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 1.99, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 3.66. Price to Free Cash Flow for TECK in the course of the last twelve months was 14.82 with Quick ratio for the last quarter at 1.30.

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 8.69. With this latest performance, TECK shares gained by 9.50% in over the last four-week period, additionally plugging by 72.11% over the last 6 months – not to mention a rise of 87.68% 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 62.13, with the RSI for the last a single of trading hit 67.09, and the three-weeks RSI is set at 59.24 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 40.14, while it was recorded at 42.74 for the last single week of trading, and 32.16 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.

An analysis of insider ownership at Teck Resources Limited [TECK]

There are presently around $11,947 million, or 69.30% of TECK stock, in the hands of institutional investors. The top three institutional holders of TECK stocks are: DODGE & COX with ownership of 23,032,740, which is approximately -4.422% of the company’s market cap and around 1.40% of the total institutional ownership; ROYAL BANK OF CANADA, holding 21,739,606 shares of the stock with an approximate value of $920.89 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $627.01 million in TECK stock with ownership of nearly 2.198% 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 247 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 54,437,711 shares. Additionally, 150 investors decreased positions by around 38,555,786 shares, while 46 investors held positions by with 189,031,107 shares. The mentioned changes placed institutional holdings at 282,024,604 shares, according to the latest SEC report filing. TECK stock had 115 new institutional investments in for a total of 19,644,145 shares, while 36 institutional investors sold positions of 8,766,881 shares during the same period.