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

Key Points

• Teck Resources shares crossed above their 200-day moving average, reaching C$84.94 before closing at C$84.45, with more than 1.1 million shares traded.
• Analyst sentiment remains cautious: two analysts rate the stock Buy and six rate it Hold, resulting in an average rating of “Hold” and an average price target of C$87.90.
• Recent analyst targets are mixed, ranging from C$81 to C$105, while the stock’s 50-day moving average of C$93.16 remains above its current price—suggesting the technical outlook is not uniformly bullish.

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$83.58 and traded as high as C$84.94. Teck Resources shares last traded at C$84.45, with a volume of 1,135,629 shares trading hands.

Analyst Upgrades and Downgrades

TECK.B has been the subject of several research reports. Canaccord Genuity Group lowered their price objective on shares of Teck Resources from C$84.00 to C$81.00 and set a "hold" rating for the company in a research report on Friday, July 24th. Raymond James Financial boosted their target price on shares of Teck Resources from C$93.00 to C$105.00 and gave the stock an "outperform" rating in a report on Wednesday, August 26th. Finally, National Bank Financial upped their target price on shares of Teck Resources from C$100.00 to C$105.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$87.90.

Teck Resources Price Performance

The firm has a market capitalization of C$41.43 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of -0.38 and a beta of 1.99. The firm has a 50 day moving average price of C$93.16 and a 200-day moving average price of C$83.58. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46.

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.

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