Teck Resources (NYSE:TECK) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Teck Resources fell below its 200-day moving average of $60.94 on Friday, trading as low as $60.05 and closing at $60.229.
• Analyst sentiment is mixed but averages to a Hold: six analysts rate the stock Buy and ten Hold, with a consensus price target of $75.25.
• The company announced a quarterly dividend of C$0.12 per share, equivalent to an annualized yield of about 0.8%.

Shares of Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $60.94 and traded as low as $60.05. Teck Resources shares last traded at $60.2290, with a volume of 1,175,763 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of Teck Resources from $96.50 to $87.00 and set a "hold" rating for the company in a research report on Friday, October 30th. 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. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $47.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, October 30th. Stifel Nicolaus raised their price objective on shares of Teck Resources from $82.00 to $95.00 and gave the company a "hold" rating in a research note on Tuesday, October 20th. Finally, Wall Street Zen lowered shares of Teck Resources from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $75.25.

Teck Resources Stock Down 1.6%

The company has a market capitalization of $29.11 billion, a P/E ratio of 10.77, a PEG ratio of 1.87 and a beta of 1.01. The firm's 50 day moving average price is $64.74 and its two-hundred day moving average price is $60.94. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of C$0.12 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources's payout ratio is presently 6.44%.

Institutional Investors Weigh In On Teck Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new position in Teck Resources during the third quarter worth about $252,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Teck Resources by 18.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 781,733 shares of the basic materials company's stock worth $51,436,000 after purchasing an additional 123,594 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Teck Resources by 44.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,143 shares of the basic materials company's stock worth $75,000 after purchasing an additional 350 shares in the last quarter. First Trust Advisors LP boosted its holdings in Teck Resources by 2.0% in the 3rd quarter. First Trust Advisors LP now owns 27,940 shares of the basic materials company's stock valued at $1,838,000 after purchasing an additional 553 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Teck Resources in the 3rd quarter valued at about $291,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.