Teck Resources Ltd (TCK) has risen sharply, recording gains of 17.34% in the past 4 weeks. However, the stock has corrected -0.19% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 14.5% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Teck Resources Ltd (NYSE:TCK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.58 and $15.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.90, notching a gain of 1.66% for the day. The total traded volume was 5,181,911 . The stock had closed at $15.64 on the previous day.
The stock has recorded a 20-day Moving Average of 10.46% and the 50-Day Moving Average is 24.73%. Teck Resources Limited is up 52.53% in the last 3-month period. Year-to-Date the stock performance stands at 313.33%.
Teck Resources Ltd (TCK) : The consensus price target for Teck Resources Ltd (TCK) is $11.21 for the short term with a standard deviation of $4.36. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $17, however, the pessimist price target for the company is $3.
Teck Resources Ltd. is engaged in the business of exploring, acquiring, developing and producing natural resources. The Company is focused on steelmaking coal, copper, zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead, molybdenum, silver, and various specialty and other metals, chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru, Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc, primarily from its Red Dog mine in Alaska, the Antamina mine in northern Peru, and its Pend Oreille mine in Washington State. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project, Frontier oil sands project in various other oil sands leases in the exploration phase, including the Lease 421 Area.