Teck Resources Ltd (TECK) Analysis & Forecast for 2024

Teck Resources Ltd (NYSE: TECK) is -12.47% lower on its value in year-to-date trading and has touched a low of $32.48 and a high of $49.34 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The TECK stock was last observed hovering at around $37.94 in the last trading session, with the day’s loss setting it -0.94%.

Currently trading at $37.00, the stock is -5.09% and -6.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.08 million and changing -2.48% at the moment leaves the stock -8.41% off its SMA200. TECK registered -11.51% loss for a year compared to 6-month loss of -8.87%. The firm has a 50-day simple moving average (SMA 50) of $1.87 and a 200-day simple moving average (SMA200) of $4.68.

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The stock witnessed a -4.42% gain in the last 1 month and extending the period to 3 months gives it a 7.31%, and is -6.82% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.30% over the week and 2.45% over the month.

Teck Resources Ltd (TECK) has around Dec 14 2023 employees, a market worth around $19.23B and $10.41B in sales. Current P/E ratio is 11.88 and Fwd P/E is 8.63. Profit margin for the company is 15.65%. Distance from 52-week low is 13.92% and -25.01% from its 52-week high. The company has generated returns on investments over the last 12 months (5.94%).

Teck Resources Ltd quarterly earnings per share for the current quarter are estimated at $1.02 with sales reaching $3.06B over the same period.The EPS is expected to shrink by -41.79% this year, but quarterly earnings will post -18.90% year-over-year. Quarterly sales are estimated to grow 31.90% in year-over-year returns.

Teck Resources Ltd (TECK) Top Institutional Holders

749 institutions hold shares in Teck Resources Ltd (TECK), with institutional investors hold 78.07% of the company’s shares. The shares outstanding are 519.80M, and float is at 506.10M with Short Float at 1.55%. Institutions hold 77.26% of the Float.

The top institutional shareholder in the company is Dodge & Cox Inc with over 19.77 million shares valued at $832.11 million. The investor’s holdings represent 3.86% of the TECK Shares outstanding. As of Jun 29, 2023, the second largest holder is Royal Bank of Canada with 19.38 million shares valued at $815.9 million to account for 3.79% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 15.75 million shares representing 3.08% and valued at over $663.03 million, while Davis Selected Advisers, LP holds 2.52% of the shares totaling 12.9 million with a market value of $543.25 million.

Teck Resources Ltd (TECK): Who are the competitors?

The company’s main competitors (and peers) include Freeport-McMoRan Inc. (FCX) that is trading -11.28% down over the past 12 months. Impala Platinum Holdings Ltd. ADR (IMPUY) that is -69.09% lower over the same period.