B. Riley Securities slashes price target on Teck Resources Limited [TECK] – find out why.

Teck Resources Limited [NYSE: TECK] stock went on an upward path that rose over 4.12% on Thursday, amounting to a one-week price increase of more than 21.50%. The company report on April 6, 2023 that Teck and Agnico Eagle Announce Completion of the San Nicolás Copper-Zinc Project Joint Venture.

Teck and Agnico Eagle are now 50/50 joint venture partners at San Nicolás, working together to advance permitting and development of the high-quality copper-zinc San Nicolás project located in Zacatecas, Mexico. The joint venture partners are planning to submit an Environmental Impact Assessment and Permit application for San Nicolás in the first half of 2023 and are targeting completion of a feasibility study in early 2024. Concluding the San Nicolás joint venture, initiating permitting, and completing the next stage of technical studies, is another positive step in Teck’s strategy to advance its industry leading Copper Growth portfolio in a timely and prudent manner and for Agnico Eagle in leveraging its Mexican operating experience and know-how to pursue growth in a high-quality, copper-zinc mineral deposit located in a premier mining jurisdiction in Mexico.

Over the last 12 months, TECK stock rose by 15.02%. The one-year Teck Resources Limited stock forecast points to a potential upside of 33.67. The average equity rating for TECK stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $21.89 billion, with 512.30 million shares outstanding and 504.87 million shares in the current float. Compared to the average trading volume of 4.46M shares, TECK stock reached a trading volume of 9265551 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 $66.29 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 Buy, with their previous recommendation back on April 04, 2023. The new note on the price target was released on January 17, 2023, representing the official price target for Teck Resources Limited stock.

The Average True Range (ATR) for Teck Resources Limited is set at 1.90, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 2.81. Price to Free Cash Flow for TECK in the course of the last twelve months was 9.84 with Quick ratio for the last quarter at 1.00.

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 21.50. With this latest performance, TECK shares gained by 13.29% in over the last four-week period, additionally plugging by 35.30% over the last 6 months – not to mention a rise of 15.02% 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 68.86, with the RSI for the last a single of trading hit 75.89, and the three-weeks RSI is set at 63.45 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 39.77, while it was recorded at 41.94 for the last single week of trading, and 35.08 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 +43.81 and a Gross Margin at +48.18. Teck Resources Limited’s Net Margin is presently recorded at +23.61.

Return on Total Capital for TECK is now 21.79, given the latest momentum, and Return on Invested Capital for the company is 12.25. Return on Equity for this stock inclined to 16.87, with Return on Assets sitting at 8.20. When it comes to the capital structure of this company, Teck Resources Limited [TECK] has a Total Debt to Total Equity ratio set at 39.32. Additionally, TECK Total Debt to Total Capital is recorded at 28.22, with Total Debt to Total Assets ending up at 19.13. Long-Term Debt to Equity for the company is recorded at 36.39, with the Long-Term Debt to Total Capital now at 26.12.

Reflecting on the efficiency of the workforce at the company, Teck Resources Limited [TECK] managed to generate an average of $337,934 per employee. Receivables Turnover for the company is 9.60 with a Total Asset Turnover recorded at a value of 0.35.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 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 4.43%.

Teck Resources Limited [TECK] Insider Position Details

There are presently around $13,213 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 $879.0 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $676.96 million in TECK stock with ownership of nearly -1.323% of the company’s market capitalization.

Positions in Teck Resources Limited stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 220 institutional holders increased their position in Teck Resources Limited [NYSE:TECK] by around 40,783,311 shares. Additionally, 194 investors decreased positions by around 30,103,071 shares, while 44 investors held positions by with 229,623,456 shares. The mentioned changes placed institutional holdings at 300,509,838 shares, according to the latest SEC report filing. TECK stock had 81 new institutional investments in for a total of 13,039,604 shares, while 45 institutional investors sold positions of 4,083,924 shares during the same period.