Teck Resources (TSE:TECK.B) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

Teck Resources Ltd (TSE:TECK.B) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$84.33 and traded as low as C$83.90. Teck Resources shares last traded at C$83.93, with a volume of 1,539,373 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on TECK.B. National Bank Financial raised their target price on Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Raymond James Financial upped their price target on Teck Resources from C$93.00 to C$105.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Canaccord Genuity Group cut their price target on shares of Teck Resources from C$84.00 to C$81.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Teck Resources presently has a consensus rating of “Hold” and an average target price of C$87.90.

Teck Resources Price Performance

The company has a 50 day moving average of C$92.00 and a 200 day moving average of C$84.33. 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 firm has a market cap of C$41.21 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of -0.38 and a beta of 1.77.

Teck Resources Company Profile

Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.