Teck Resources Ltd [TECK] Is Currently 1.05 below its 200 Period Moving Avg: What Does This Mean?

Teck Resources Ltd [NYSE: TECK] traded at a high on Monday, posting a 1.05 gain after which it closed the day’ session at $46.26. The company report on March 14, 2024 at 5:30 PM that Teck Reports 2023 Sustainability Performance.

“At Teck, we are committed to responsibly producing the critical minerals the world needs to create a low-carbon future,” said Jonathan Price, President and CEO. “Teck is working to further strengthen our sustainability performance, including setting a goal of net zero Scope 1 and Scope 2 emissions across our operations by 2050, and being one of the first mining companies to commit to supporting a nature positive future by 2030.”.

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The results of the trading session contributed to over 5478058 shares changing hands. Over the past one week, the price volatility of Teck Resources Ltd stands at 2.92% while the volatility over the past one month is 2.76%.

The market cap for TECK stock reached $23.95 billion, with 509.67 million shares outstanding and 504.23 million shares in the current float. Compared to the average trading volume of 3.76M shares, TECK reached a trading volume of 5478058 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Teck Resources Ltd [TECK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TECK shares is $48.55 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 1.40. 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.

UBS have made an estimate for Teck Resources Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 16, 2024. The new note on the price target was released on November 10, 2023, representing the official price target for Teck Resources Ltd stock. Previously, the target price had yet another raise to $52, while JP Morgan analysts kept a Overweight rating on TECK stock.

The Average True Range (ATR) for Teck Resources Ltd is set at 1.29, with the Price to Sales ratio for TECK stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 1.09.

How has TECK stock performed recently?

Teck Resources Ltd [TECK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.10. With this latest performance, TECK shares gained by 20.41% in over the last four-week period, additionally plugging by 8.85% over the last 6 months – not to mention a rise of 29.94% 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 67.77, with the RSI for the last a single of trading hit 70.77, and the three-weeks RSI is set at 65.24 for Teck Resources Ltd [TECK]. The present Moving Average for the last 50 days of trading for this stock 40.53, while it was recorded at 44.44 for the last single week of trading, and 40.11 for the last 200 days.

Teck Resources Ltd [TECK]: Deeper insight into the fundamentals

Teck Resources Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.10.

Earnings analysis for Teck Resources Ltd [TECK]

With the latest financial reports released by the company, Teck Resources Ltd posted 1.35/share EPS, while the average EPS was predicted by analysts to be reported at 1.4/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.60%. 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.

Insider trade positions for Teck Resources Ltd [TECK]

The top three institutional holders of TECK stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in TECK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in TECK stock with ownership which is approximately 5.8386%.