Market cap of Teck Resources Limited [TECK] reaches 16.52B – now what?

Teck Resources Limited [NYSE: TECK] stock went on a downward path that fall over -1.50% on Thursday, amounting to a one-week price decrease of less than -4.11%. The company report on November 16, 2022 that Teck Announces Dividend.


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About TeckAs one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Over the last 12 months, TECK stock rose by 22.64%. The one-year Teck Resources Limited stock forecast points to a potential upside of 39.41. The average equity rating for TECK stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $16.52 billion, with 522.40 million shares outstanding and 504.84 million shares in the current float. Compared to the average trading volume of 4.34M shares, TECK stock reached a trading volume of 2505142 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $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 1.70. 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 1.74, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 3.95. Price to Free Cash Flow for TECK in the course of the last twelve months was 4.92 with Quick ratio for the last quarter at 1.10.

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 -4.11. With this latest performance, TECK shares gained by 0.52% in over the last four-week period, additionally sinking by -18.08% over the last 6 months – not to mention a rise of 22.64% 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 49.15, with the RSI for the last a single of trading hit 47.33, and the three-weeks RSI is set at 49.83 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 32.57, while it was recorded at 33.98 for the last single week of trading, and 35.29 for the last 200 days.

Insight into Teck Resources Limited 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.

TECK Stock EPS

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 0.55%.

Teck Resources Limited [TECK] Insider Position Details

There are presently around $9,506 million, or 73.80% of TECK stock, in the hands of institutional investors. The top three institutional holders of TECK stocks are: DODGE & COX with ownership of 26,715,331, which is approximately 15.892% of the company’s market cap and around 1.40% of the total institutional ownership; ROYAL BANK OF CANADA, holding 19,766,192 shares of the stock with an approximate value of $650.31 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $513.32 million in TECK stock with ownership of nearly 1.942% 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 215 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 33,660,497 shares. Additionally, 194 investors decreased positions by around 37,250,785 shares, while 38 investors held positions by with 218,020,463 shares. The mentioned changes placed institutional holdings at 288,931,745 shares, according to the latest SEC report filing. TECK stock had 56 new institutional investments in for a total of 5,658,301 shares, while 64 institutional investors sold positions of 7,745,385 shares during the same period.

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