Teck Resources (TSE:TECK.B) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$65.89 and traded as low as C$59.73. Teck Resources shares last traded at C$60.22, with a volume of 953,648 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. CIBC lowered their price objective on Teck Resources from C$80.00 to C$78.00 in a research report on Friday, October 25th. Raymond James raised their target price on shares of Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their price target on shares of Teck Resources from C$80.00 to C$78.00 in a research note on Friday, October 25th. National Bankshares cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$85.00 to C$77.50 in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada cut their target price on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.30.

Teck Resources Price Performance

The firm has a fifty day moving average of C$66.20 and a two-hundred day moving average of C$65.89. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The company has a market capitalization of C$30.83 billion, a PE ratio of 21.58, a PEG ratio of -0.38 and a beta of 1.37.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.