Teck Resources Limited [TECK] moved down -4.83: Why It’s Important

Teck Resources Limited [NYSE: TECK] closed the trading session at $32.68 on 11/09/22. The day’s price range saw the stock hit a low of $32.665, while the highest price level was $34.54. The company report on October 31, 2022 that Teck and Ocean Regenerative Collaborate to Use Seaweed to Grow Trees.

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“This unique research project supports Teck’s efforts to become nature positive and contribute to tackling the global challenges of nature loss and climate change,” said Jonathan Price, CEO, Teck. “We’re looking forward to working with Ocean Regenerative to advance this innovative initiative using seaweed to accelerate reclamation and carbon sequestration.”.

The stocks have a year to date performance of 14.46 percent and weekly performance of 7.39 percent. The stock has been moved at -11.79 percent over the last six months. The stock has performed 2.54 percent around the most recent 30 days and changed -1.45 percent over the most recent 3-months.

If compared to the average trading volume of 4.35M shares, TECK reached to a volume of 3483036 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $54.30 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.

Citigroup have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 28, 2022. The new note on the price target was released on October 28, 2022, representing the official price target for Teck Resources Limited stock. On September 16, 2022, analysts increased their price target for TECK shares from 41 to 51.

The Average True Range (ATR) for Teck Resources Limited is set at 1.82, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 3.86. Price to Free Cash Flow for TECK in the course of the last twelve months was 5.00 with Quick ratio for the last quarter at 1.10.

TECK stock trade performance evaluation

Teck Resources Limited [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.39. With this latest performance, TECK shares gained by 2.54% in over the last four-week period, additionally sinking by -11.79% over the last 6 months – not to mention a rise of 20.97% 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 50.10, with the RSI for the last a single of trading hit 49.74, and the three-weeks RSI is set at 50.22 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 32.45, while it was recorded at 33.02 for the last single week of trading, and 35.22 for the last 200 days.

Teck Resources Limited [TECK]: An insightful look at the core fundamentals

Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Teck Resources Limited [TECK] stock

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 -5.12%.

Teck Resources Limited [TECK]: Insider Ownership positions

There are presently around $9,458 million, or 73.50% of TECK stock, in the hands of institutional investors. The top three institutional holders of TECK stocks are: DODGE & COX with ownership of 23,051,940, which is approximately 0.083% of the company’s market cap and around 1.40% of the total institutional ownership; ROYAL BANK OF CANADA, holding 20,142,389 shares of the stock with an approximate value of $658.25 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $500.17 million in TECK stock with ownership of nearly 3.4% of the company’s market capitalization.

Positions in Teck Resources Limited stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 217 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 52,309,710 shares. Additionally, 210 investors decreased positions by around 41,995,253 shares, while 36 investors held positions by with 195,095,726 shares. The mentioned changes placed institutional holdings at 289,400,689 shares, according to the latest SEC report filing. TECK stock had 62 new institutional investments in for a total of 5,859,469 shares, while 75 institutional investors sold positions of 7,237,881 shares during the same period.


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