Teck Resources Limited [NYSE: TECK] loss -4.54% or -1.87 points to close at $39.30 with a heavy trading volume of 3823976 shares. The company report on February 21, 2023 that Teck Reports Unaudited Fourth Quarter Results for 2022.
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High commodity prices drive record annual financial performance.
It opened the trading session at $40.69, the shares rose to $41.065 and dropped to $39.115, the range by which the price of stock traded the whole day. The daily chart for TECK points out that the company has recorded 20.00% gains over the past six months. However, it is still -58.98% lower than its most recent low trading price.
If we look at the average trading volume of 3.60M shares, TECK reached to a volume of 3823976 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 $65.59 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 1.80. 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.
B. Riley Securities have made an estimate for Teck Resources Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 17, 2023. The new note on the price target was released on October 28, 2022, representing the official price target for Teck Resources Limited stock.
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 1.56. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 2.73. Price to Free Cash Flow for TECK in the course of the last twelve months was 9.05 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for TECK stock
Teck Resources Limited [TECK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.55. With this latest performance, TECK shares dropped by -8.01% in over the last four-week period, additionally plugging by 20.00% over the last 6 months – not to mention a drop of -4.38% 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 42.01, with the RSI for the last a single of trading hit 37.97, and the three-weeks RSI is set at 45.21 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 40.96, while it was recorded at 41.33 for the last single week of trading, and 35.57 for the last 200 days.
Teck Resources Limited [TECK]: A deeper dive into fundamental analysis
Teck Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.40.
Teck Resources Limited [TECK]: An earnings per share (EPS) analysis
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 2.83%.
An analysis of insider ownership at Teck Resources Limited [TECK]
There are presently around $11,838 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 27,074,340, which is approximately 1.344% of the company’s market cap and around 1.40% of the total institutional ownership; ROYAL BANK OF CANADA, holding 19,990,800 shares of the stock with an approximate value of $785.64 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $605.06 million in TECK stock with ownership of nearly -1.323% of the company’s market capitalization.
223 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 42,643,349 shares. Additionally, 197 investors decreased positions by around 30,410,030 shares, while 43 investors held positions by with 228,178,815 shares. The mentioned changes placed institutional holdings at 301,232,194 shares, according to the latest SEC report filing. TECK stock had 86 new institutional investments in for a total of 15,083,822 shares, while 46 institutional investors sold positions of 4,337,663 shares during the same period.