Teck Resources (TSE:TECK.B) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Teck Resources Ltd (TSE:TECK.B) passed 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 trading hands.

Analyst Upgrades and Downgrades

TECK.B has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Raymond James raised their target price on Teck Resources from C$74.00 to C$75.00 in a research note on Wednesday, November 6th. Citigroup upped their price target on Teck Resources from C$64.00 to C$74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price objective on Teck Resources from C$78.00 to C$76.00 in a research report on Friday, October 25th. Finally, Scotiabank boosted their target price on shares of Teck Resources from C$74.00 to C$75.00 in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$76.30.

Teck Resources Trading Down 1.1 %

The stock has a market cap of C$30.83 billion, a P/E ratio of 21.58, a P/E/G ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The firm’s 50 day moving average price is C$66.20 and its 200-day moving average price is C$65.89.

Teck Resources Company Profile

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.