Teck Resources (NYSE:TECK) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Teck Resources shares moved above their 200-day moving average of $61.78, reaching $68.30 before last trading at $67.14.
• Analyst sentiment is mixed but improving: six analysts rate the stock a Buy and seven a Hold, producing a consensus Hold rating and a $62.25 price target.
• The company reported strong quarterly results, with EPS of $1.35 versus the $0.95 estimate and revenue up 78.2% year over year; it also declared a C$0.12 quarterly dividend yielding about 0.7%.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK's stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $61.78 and traded as high as $68.30. Teck Resources shares last traded at $67.1390, with a volume of 1,734,683 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial raised shares of Teck Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Teck Resources from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Wall Street Zen cut shares of Teck Resources from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. Weiss Ratings raised shares of Teck Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Finally, Scotiabank reissued a "sector perform" rating on shares of Teck Resources in a research note on Monday, June 15th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.25.

Teck Resources Trading Down 1.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. The company has a market cap of $32.44 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The stock has a 50-day moving average of $66.45 and a two-hundred day moving average of $61.78.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.95 by $0.40. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The company's revenue for the quarter was up 78.2% compared to the same quarter last year. On average, equities research analysts predict that Teck Resources Ltd will post 4.11 earnings per share for the current year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a C$0.12 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Teck Resources's payout ratio is currently 9.76%.

Hedge Funds Weigh In On Teck Resources

A number of hedge funds have recently bought and sold shares of TECK. Central Pacific Bank Trust Division increased its stake in Teck Resources by 740.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,520 shares of the basic materials company's stock valued at $166,000 after purchasing an additional 2,220 shares in the last quarter. HBK Investments L P raised its holdings in Teck Resources by 264.2% in the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock worth $343,270,000 after buying an additional 4,188,029 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Teck Resources by 13.2% in the second quarter. Sequoia Financial Advisors LLC now owns 16,451 shares of the basic materials company's stock worth $978,000 after buying an additional 1,920 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Teck Resources by 9.0% in the second quarter. Tidal Investments LLC now owns 166,945 shares of the basic materials company's stock worth $9,789,000 after buying an additional 13,811 shares in the last quarter. Finally, RFG Advisory LLC purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $207,000. Institutional investors own 78.06% of the company's stock.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck's copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world's significant zinc-producing operations.

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