Teck Resources Limited [NYSE: TECK] price plunged by -1.09 percent to reach at -$0.31. The company report on July 26, 2022 that Teck Announces President and CEO Succession.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
Don Lindsay announces retirement after fourth consecutive record quarter.
Jonathan Price Appointed CEO; Red Conger Appointed President and COO.
A sum of 5450438 shares traded at recent session while its average daily volume was at 5.83M shares. Teck Resources Limited shares reached a high of $28.96 and dropped to a low of $27.50 until finishing in the latest session at $28.07.
The one-year TECK stock forecast points to a potential upside of 49.12. 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 $55.17 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 Buy, with their previous recommendation back on July 28, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $47 to $45. The new note on the price target was released on June 23, 2022, representing the official price target for Teck Resources Limited stock.
The Average True Range (ATR) for Teck Resources Limited is set at 1.60, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 4.23. Price to Free Cash Flow for TECK in the course of the last twelve months was 4.20 with Quick ratio for the last quarter at 1.20.
TECK Stock Performance Analysis:
Teck Resources Limited [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.00. With this latest performance, TECK shares dropped by -5.74% in over the last four-week period, additionally sinking by -8.21% over the last 6 months – not to mention a rise of 26.72% 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 44.54, with the RSI for the last a single of trading hit 49.70, and the three-weeks RSI is set at 42.47 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 34.02, while it was recorded at 28.09 for the last single week of trading, and 33.77 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 1.20 and a Current Ratio set at 1.80.
Teck Resources Limited [TECK] Insider Position Details
There are presently around $7,803 million, or 68.10% 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 $610.23 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $415.49 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 July and at the time of the July reporting period, where 238 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 48,036,302 shares. Additionally, 178 investors decreased positions by around 42,833,116 shares, while 41 investors held positions by with 187,106,226 shares. The mentioned changes placed institutional holdings at 277,975,644 shares, according to the latest SEC report filing. TECK stock had 106 new institutional investments in for a total of 19,036,362 shares, while 51 institutional investors sold positions of 9,271,447 shares during the same period.