Teck Resources Limited [TECK] is 31.91% higher this YTD. Is it still time to buy?


Teck Resources Limited [NYSE: TECK] price plunged by -6.41 percent to reach at -$2.58. The company report on June 14, 2022 that Teck Announces Pricing of Cash Tender Offer.

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Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today the pricing terms of its previously announced tender offer (as amended and supplemented, the “Tender Offer) to purchase up to US$650 million aggregate principal amount of the outstanding notes (collectively, the “Notes” and each a “Series” of Notes) identified in Teck’s Offer to Purchase dated May 24, 2022 (as amended by Teck’s news releases dated June 7, 2022 and June 14, 2022 and as it may be further amended or supplemented, the “Offer to Purchase”). The terms and conditions of the Tender Offer are described in the Offer to Purchase, which may be obtained from Global Bondholder Services Corporation as described below.

The total consideration to be paid in the Tender Offer for each Series of Notes accepted for purchase was determined by reference to a fixed spread specified for such Series of Notes over the yield (the “Reference Yield”) based on the bid-side price of the applicable U.S. Treasury Security, in each case as set forth in the table below (the “Total Tender Offer Consideration”). The Reference Yields (as determined pursuant to the Offer to Purchase) listed in the table below were determined at 10:00 a.m., New York City time, today, June 14, 2022, by the Dealer Managers (identified below). The Total Tender Offer Consideration for each Series of Notes includes an Early Tender Premium (as defined below) of US$50 per US$1,000 principal amount of Notes accepted for purchase by Teck.

A sum of 6325129 shares traded at recent session while its average daily volume was at 5.27M shares. Teck Resources Limited shares reached a high of $39.19 and dropped to a low of $37.16 until finishing in the latest session at $37.66.

The one-year TECK stock forecast points to a potential upside of 37.64. The average equity rating for TECK stock is currently 2.00, 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 $60.39 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 1.97, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.06, 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 13.25 with Quick ratio for the last quarter at 1.30.

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 -13.94. With this latest performance, TECK shares dropped by -6.23% in over the last four-week period, additionally plugging by 41.74% over the last 6 months – not to mention a rise of 84.10% 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 39.44, with the RSI for the last a single of trading hit 32.67, and the three-weeks RSI is set at 43.34 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 40.51, while it was recorded at 39.80 for the last single week of trading, and 33.19 for the last 200 days.

Insight into Teck Resources Limited Fundamentals:

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] Insider Position Details

There are presently around $11,349 million, or 69.10% 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 $874.8 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $595.63 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 246 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 51,313,669 shares. Additionally, 151 investors decreased positions by around 40,047,701 shares, while 46 investors held positions by with 190,671,334 shares. The mentioned changes placed institutional holdings at 282,032,704 shares, according to the latest SEC report filing. TECK stock had 114 new institutional investments in for a total of 19,554,945 shares, while 36 institutional investors sold positions of 8,766,881 shares during the same period.