As of Friday close, Teck Resources Limited’s (NYSE:TECK) stock was down -$0.14, moving down -0.35 percent to $39.99. The average number of shares traded per day over the past five days has been 3,002,520 shares. 1 time new highs have been achieved over the past 5 days, with a -$4.00 fall in that time frame. In the last twenty days, the average volume was 2,853,820, while in the previous 50 days, it was 3,047,122.
Since last month, TECK stock retreated -1.77%. Shares of the company fell to $39.61 on 08/25/23, the lowest level in the past month. A 52-week high of $49.34 was reached on 04/17/23 after having rallying from a 52-week low of $28.12. Since the beginning of this year, TECK’s stock price has risen by 6.82% or $2.17, and marked a new high 14 times. However, the stock has declined by -18.95% since its 52-week high.
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Valuation Metrics
Right now, Teck Resources Limited (TECK) has a P/E ratio of about 11.20. The stock’s beta is 1.11. Besides these, the trailing price-to-sales (P/S) ratio of 2.03, the price-to-book (PB) ratio of 1.06.
The latest dividend of $0.0940 per share was paid out, which is -24.8% less than last year’s $0.1250. On Wednesday July 26 2023, a $0.0310 dividend decrease was announced.
Financial Health
In the three months ended June 29, Teck Resources Limited’s quick ratio stood at 0.70, while its current ratio was 1.30, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.36, and the total debt-to-equity ratio was 0.38. On the profitability front, the trailing twelve-month gross margin is 42.00% percent. In the year ended June 29, EBITDA margin amounted to 54.27%, whereas operating margins totaled 32.70%. Based on annual data, TECK earned $6.59 billion in gross profit and brought in $13.32 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 12.50%. Return on equity (ROE) for the past 12 months was 6.70%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TECK’s revenue fell -5.28% during the quarter, while net income inched up to $9.14 billion. While analysts expected Teck Resources Limited to report $0.94 quarterly earnings, the actual figure was $0.91 per share, beating the consensus estimate by -3.20%. During the quarter, the company generated $1.11 billion in EBITDA. The liabilities of Teck Resources Limited were 18.94 billion at the end of its most recent quarter ended June 29, and its total debt was $10.16 billion.
Technical Picture
This quick technical analysis looks at Teck Resources Limited’s (TECK) price momentum. With a historical volatility rate of 32.64%, the RSI 9-day stood at 36.04% on 22 September.
With respect to its five-day moving average, the current Teck Resources Limited price is down by -9.09% percent or -$4.00. At present, TECK shares trade +0.38% above its 20-day simple moving average and -12.13% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.01% below its SMA50 and +10.50% above its SMA200.
Stochastic coefficient K was 17.39% and Stochastic coefficient D was 37.43%, while ATR was 1.30. Given the Stochastic reading of 1.87% for the 14-day period, the RSI (14) reading has been calculated as 41.71%. As of today, the MACD Oscillator reading stands at -1.51, while the 14-day reading stands at -1.11.
Analyst Ratings
National Bank Financial upgraded its rating on Teck Resources Limited (NYSE: TECK) to an Outperform in a note to investors on July 28, 2023. The analysts firm previously had a Sector perform rating on the stock.Teck Resources Limited (TECK) has been rated Overweight by analysts. According to 0 brokerage firms, TECK is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Teck Resources Limited stock as buy, with 11 recommending it as overweight.
With a median target price of $50.48, the current consensus forecast for the stock is $45.47 – $59.13. Based on these forecasts, analysts predict Teck Resources Limited (TECK) will achieve an average price target of $51.58.
