Teck Resources Ltd (TCK) : Traders are bullish on Teck Resources Ltd (TCK) as it has outperformed the S&P 500 by a wide margin of 15.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.22%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.19% in the last 1 week, and is up 16.35% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Teck Resources Limited is up 60.96% in the last 3-month period. Year-to-Date the stock performance stands at 310.73%. The stock has recorded a 20-day Moving Average of 1.89% and the 50-Day Moving Average is 13.65%.
Teck Resources Ltd (NYSE:TCK): The stock opened at $16.14 on Friday but the bulls could not build on the opening and the stock topped out at $16.19 for the day. The stock traded down to $15.67 during the day, due to lack of any buying support eventually closed down at $15.80 with a loss of -4.24% for the day. The stock had closed at $16.50 on the previous day. The total traded volume was 7,014,929 shares.
Also, Bernstein initiates coverage on Teck Resources Ltd (NYSE:TCK). The rating major has initiated the coverage with sell rating on the shares. The Analysts at Bernstein announces a current price target of $10 per share. The rating by the firm was issued on August 19, 2016.
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.