Teck Resources (TSE:TECK.B) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Teck Resources Ltd (TSE:TECK.B) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$59.79 and traded as low as C$55.68. Teck Resources shares last traded at C$56.26, with a volume of 993,817 shares changing hands.

Analyst Ratings Changes

TECK.B has been the subject of several research analyst reports. National Bankshares reduced their price target on shares of Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Scotiabank lowered their target price on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Raymond James lifted their price target on Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Citigroup reduced their price objective on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their target price on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Price Performance

The stock has a market cap of C$28.81 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The company has a 50-day simple moving average of C$59.79 and a two-hundred day simple moving average of C$62.85.

About Teck Resources

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.