Teck Resources Ltd (NYSE:TECK) shares, rose in value, with the stock price down by -1.96% to the previous day’s close as strong demand from buyers drove the stock to $46.92.
Actively observing the price movement in the last trading, the stock closed the session at $47.86. The value of beta (5-year monthly) was 1.44 whereas the PE ratio was 13.75 over 12-month period. Referring to stock’s 52-week performance, its high was $49.34, and the low was $34.38. On the whole, TECK has fluctuated by 21.24% over the past month.
With the market capitalization of Teck Resources Ltd currently standing at about $24.30 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024. The company’s Forward Dividend Ratio is 0.37, with its dividend yield at 0.79%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.9, which is expected to increase to $1.46 for fiscal year $3.39 and then to about $2.59 by fiscal year 2025. Data indicates that the EPS growth is expected to be -10.80% in 2025, while the next year’s EPS growth is forecast to be -23.60%.
Analysts have estimated the company’s revenue for the quarter at $3.08 billion, with a low estimate of $2.95 billion and a high estimate of $3.21 billion. According to the average forecast, sales growth in current quarter could jump up 7.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $12.02 billion, representing an increase of 8.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TECK’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TECK currently trading nearly 6.78% and 14.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.35, while the 7-day volatility ratio is showing 3.56% which for the 30-day chart, stands at 2.93%. Furthermore, Teck Resources Ltd (TECK)’s beta value is 1.16, and its average true range (ATR) is 1.32.
A comparison of Teck Resources Ltd (TECK) with its peers suggests the former has fared considerably weaker in the market. TECK showed an intraday change of -1.96% in last session, and over the past year, it grew by 7.49%%.
Data on historical trading for Teck Resources Ltd (NYSE:TECK) indicates that the trading volumes over the past 10 days have averaged 4.28 million and over the past 3 months, they’ve averaged 3.89 million. According to company’s latest data on outstanding shares, there are 509.67 million shares outstanding.
Nearly 2.62% of Teck Resources Ltd’s shares belong to company insiders and institutional investors own 75.64% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.76 million shares as on Mar 15, 2024, resulting in a short ratio of 2.33. According to the data, the short interest in Teck Resources Ltd (TECK) stood at 0.92% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.15 million. The stock has risen by 11.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TECK stock heading into the next quarter.
