The stock of Teck Resources Limited (NYSE:TECK) decreased by -$1.9 on Tuesday to finish at $37.94, down -4.77 percent. The last five days have seen an average of 3,750,920 shares of common stock traded. 14 times new highs were reached in the current year, with a gain of $0.12. The average number of shares traded over the last 20 days was 3,132,890, while the average volume over the last 50 days totaled 3,307,554.
TECK stock dropped -8.91% since last month. On 08/15/23, the company’s shares reached a one-month low of $37.66. The stock touched a high of $49.34 on 04/17/23, after rallying from a low of $28.12 in 52 weeks. The price of TECK stock has risen by 1.34% or $0.12 this year, reaching a new high 14 times. Still, the stock price is down -23.10% from the 52-week high.
Valuation Metrics
Teck Resources Limited (TECK) has a trailing price-to-earnings (P/E) ratio of 10.58. Beta for the stock is 1.12. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.93, the price-to-book (PB) ratio of 1.00.
Company paid $0.0940 per share in dividends, a decrease of -24.8% from $0.1250 last year.
Financial Health
For the three months ended June 29, Teck Resources Limited’s quick ratio was 0.70, while its current ratio was 1.30, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.36, and the total debt to equity ratio is 0.38. As far as profitability goes, gross margin for the trailing twelve months is 42.00% percent. Teck Resources Limited’s EBITDA margin for the year ended June 29 was 54.27%, whereas its operating margin stood at 32.70% for the same period. Based on annual data, it had gross profit of $6.59 billion and revenue of $13.32 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TECK’s return on assets (ROA) during the last 12 months has been 3.30%. There was a 12.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 6.70%.
Earnings Surprise
According to Teck Resources Limited’s quarterly financial report for the quarter that ended June 29, it had $72.77 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $9.14 billion, while revenues fell by -5.28% to $0.0. It was predicted that Teck Resources Limited’s quarterly earnings would be $0.91, but it ended up being $0.95, beating the consensus by -4.20%. EBITDA was $1.11 billion for the quarter. At the end of Teck Resources Limited’s most recent quarter ended June 29, its liabilities totaled 18.94 billion, while its total debt was $10.16 billion.
Technical Picture
Here’s a quick look at Teck Resources Limited’s (TECK) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 19.64%, suggesting the stock is oversold, with a 21.41% historical volatility rate.
The stochastic %K and %D were 7.98% and 9.94% respectively, while the average true range (ATR) was 1.28. Based on the 14-day stochastic reading of 3.87%, the RSI (14) reading is 29.39%. On the 9-day MACD Oscillator, the stock is at -1.53, and the 14-day reading is at -2.34.
Analyst Ratings
In its most recent analyst report, National Bank Financial raised its rating on Teck Resources Limited (NYSE: TECK) to an Outperform. Prior to this, analysts firm rated the stock as a Sector perform. Analysts have assigned Teck Resources Limited (TECK) an Buy rating. TECK is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 12 others recommend it as a buy.
What is TECK’s price target for the next 12 months?
The current consensus forecast for the stock is between $45.47 and $60.62, with a median target price of $50.96. In analyzing these forecasts, the average price target given by analysts for Teck Resources Limited (TECK) is $51.33.
