Teck Resources Ltd (NYSE:TECK) traded at $49.78 at last check on Tuesday, April 30, made a downward move of -2.52% on its previous day’s price.
Looking at the stock we see that its previous close was $51.07. The company has a trailing 12-month PE ratio of 21.91. In terms of its 52-week price range, TECK has a high of $51.65 and a low of $34.38. The company’s stock has gained about 7.62% over that past 30 days.
Teck Resources Ltd has a market cap of $25.78 billion. With its Forward Dividend at 0.37 and a yield of 0.75%, the company’s investors could be anxious for the TECK stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.47, with the EPS growth for the year raised at $2.47 for 2024 and $2.16 for next year. These figures represent -34.50% and -12.60% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.9 billion, with a low of $2.81 billion and a high of $3.05 billion. The median projection represents growth squeezing down to 11.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $11.82 billion, or 7.50% up from figures reported last year.
On the other hand, looking at the outlook for the TECK stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is 4.31% off its SMA20 and 13.02% from its 50-day simple moving average. The RSI (14) is pointing at 62.21 while the volatility over the past week is 3.54% and jumps to 3.37% over the past one month. The beta value is 1.13, while the average true range (ATR) is currently pointing at 1.71.
Coming back to Teck Resources Ltd (NYSE:TECK), we note that the average 3-month trading volume was 4.24 million. Current shares outstanding are 509.67 million.
The insiders hold 2.62% of the company’s shares while institutions hold 75.52%. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 17.78% up in year-to-date price movement.
