Teck Resources (TSE:TECK.B) Stock Price Passes Below 50-Day Moving Average of $64.14

Teck Resources Ltd (TSE:TECK.B)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$64.14 and traded as low as C$63.30. Teck Resources shares last traded at C$63.59, with a volume of 1,572,409 shares changing hands.

Analyst Ratings Changes

TECK.B has been the topic of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Teck Resources from C$80.00 to C$77.00 in a research report on Thursday, July 25th. Raymond James reduced their price target on shares of Teck Resources from C$71.00 to C$70.00 in a research report on Thursday, July 25th. Canaccord Genuity Group reduced their price target on shares of Teck Resources from C$80.00 to C$76.00 in a research report on Monday, July 22nd. Royal Bank of Canada reduced their price target on shares of Teck Resources from C$88.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their price target on shares of Teck Resources from C$80.00 to C$85.00 in a research report on Monday, July 8th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$76.40.

Teck Resources Price Performance

The stock’s 50 day moving average price is C$64.14 and its 200-day moving average price is C$64.84. The stock has a market capitalization of C$32.56 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of -0.38 and a beta of 1.36. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

About Teck Resources

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.