Teck Resources Limited [NYSE: TECK] gained 7.59% or 3.43 points to close at $48.65 with a heavy trading volume of 17140738 shares. The company report on April 16, 2023 that Statement from Dr. Norman Keevil.
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today issued a statement on behalf of Teck Chairman Emeritus Dr. Norman B. Keevil:.
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“As there has been much media commentary regarding my views on the future of Teck, I would like to provide a clear statement of my perspective.
It opened the trading session at $47.03, the shares rose to $49.34 and dropped to $46.98, the range by which the price of stock traded the whole day. The daily chart for TECK points out that the company has recorded 47.06% gains over the past six months. However, it is still -98.81% lower than its most recent low trading price.
If we look at the average trading volume of 4.74M shares, TECK reached to a volume of 17140738 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 $66.25 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 1.95, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 2.77. Price to Free Cash Flow for TECK in the course of the last twelve months was 11.06 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for TECK stock
Teck Resources Limited [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.75. With this latest performance, TECK shares gained by 42.21% in over the last four-week period, additionally plugging by 47.06% over the last 6 months – not to mention a rise of 13.58% 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 75.23, with the RSI for the last a single of trading hit 81.62, and the three-weeks RSI is set at 69.81 for Teck Resources Limited [TECK]. The present Moving Average for the last 50 days of trading for this stock 40.03, while it was recorded at 44.94 for the last single week of trading, and 35.44 for the last 200 days.
Teck Resources Limited [TECK]: A deeper dive into fundamental analysis
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 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 2.89%.
An analysis of insider ownership at Teck Resources Limited [TECK]
There are presently around $13,639 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 $903.98 million in TECK stocks shares; and VANGUARD GROUP INC, currently with $696.2 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 38,528,393 shares. Additionally, 194 investors decreased positions by around 30,251,926 shares, while 44 investors held positions by with 232,836,592 shares. The mentioned changes placed institutional holdings at 301,616,911 shares, according to the latest SEC report filing. TECK stock had 79 new institutional investments in for a total of 12,103,042 shares, while 46 institutional investors sold positions of 4,122,035 shares during the same period.