Teck Resources Ltd (NYSE:TECK) finished Friday with an addition of $0.59 to close at $43.09, an upside of 1.39 percent. An average of 3,004,520 shares of common stock have been traded in the last five days. There was a gain of $3.10 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 3,115,175 shares traded, while the 50-day average volume stands at 3,095,950.
TECK stock has increased by 4.26% in the last month. The company shares reached their 1-month lowest point of $39.32 on 09/25/23. With the stock rallying to its 52-week high on 04/17/23, shares of the company touched a low of $29.25 and a high of $49.34 in 52 weeks. It has reached a new high 14 times so far this year and achieved 15.10% or $5.27 in price. In spite of this, the price is down -12.67% from the 52-week high.
Valuation Metrics
Teck Resources Ltd (TECK) has a trailing price-to-earnings (P/E) ratio of 17.68. The stock’s beta is 1.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.98, the price-to-book (PB) ratio at 1.12.
The company has a payout ratio of 7.94%. The company’s most recent quarterly dividend payment was $0.0940 a share, representing a down of -24.8% from $0.1250 last year. Its latest decrease dividend $0.0310 reported on Wednesday July 26 2023.
Financial Health
The quick ratio of Teck Resources Ltd for the three months ended June 29 was 0.72, and the current ratio was 1.29, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.36 and a total debt to equity ratio of 0.38 for the quarter ending June 29. Its gross profit as reported stood at $6.59 billion compared to revenue of $13.32 billion.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$463.43 million in the quarter, while revenues were grew 613.55%. The analyst consensus anticipated Teck Resources Ltd’s latest quarter earnings to come in at $0.94 per share, but it turned out to be $0.9, a -4.30% surprise. For the quarter, EBITDA amounted to $1.11 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Teck Resources Ltd (TECK) price momentum. RSI 9-day as of the close on 29 September was 61.52%, suggesting the stock is Neutral, with historical volatility in this time frame at 40.22%.
As of today, TECK’s price is $41.51 +7.75% or $3.10 from its 5-day moving average. TECK is currently trading +4.28% higher than its 20-day SMA and -2.67% lower than its 100-day SMA. However, the stock’s current price level is +2.08% above the SMA50 and +17.16% above the SMA200.
The stochastic %K and %D were 53.67% and 38.42%, respectively, and the average true range (ATR) was 1.30. With the 14-day stochastic at 73.49% and the average true range at 1.26, the RSI (14) stands at 58.00%. The stock has reached 0.72 on the 9-day MACD Oscillator while the 14-day reading was at 0.11.
Analyst Ratings
National Bank Financial upgraded Teck Resources Ltd (NYSE: TECK) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Sector perform. The consensus rating for Teck Resources Ltd (TECK) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TECK, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 11 others rate it as a “buy”.
What is TECK’s price target for the next 12 months?
Analysts predict a range of price targets between $45.47 and $59.32, with a median target of $51.53. Taking a look at these predictions, the average price target given by analysts for Teck Resources Ltd (TECK) stock is $52.29.
