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

Teck Resources Ltd (TSE:TECK.B)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$84.33 and traded as low as C$83.90. Teck Resources shares last traded at C$83.93, with a volume of 1,539,373 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TECK.B shares. 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 increased their price target on shares of Teck Resources from C$93.00 to C$105.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, National Bank Financial boosted their price objective on shares of Teck Resources from C$100.00 to C$105.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$87.90.

Teck Resources Stock Performance

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 market cap of C$41.21 billion, a price-to-earnings ratio of 10.83, a PEG ratio of -0.38 and a beta of 1.77. The firm’s 50-day moving average price is C$92.00 and its 200 day moving average price is C$84.33.

About Teck Resources

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.