Upgrade Alert for Teck Resources (TCK)
Teck Resources (NYSE:TCK) was upgraded from Sector Perform to Outperform at RBC Capital today. The stock closed yesterday at $19.47 on volume of 11.0 million shares, below average daily volume of 11.8 million.
In the past 52 weeks, shares of Teck Resources have traded between a low of $2.56 and a high of $19.08 and closed yesterday at $19.45, which is 660% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 5.0% while the 200-day MA has risen 0.9%.
Teck Resources (NYSE:TCK) defies analysts with a current price ($19.45) 59.5% above its average consensus price target of $7.89. The stock should discover initial support at its 50-day moving average (MA) of $8.47 and subsequent support at its 200-day MA of $6.07.
Teck Resources Ltd. is an integrated natural resource group with activities in mining, smelting, and refining. The Company mines zinc, copper, molybdenum, gold, and metallurgical coal in the United States, Canada, Peru, and Chile. Teck also produces refined metals, specialized metal products, and other products.
SmarTrend recommended that subscribers consider buying shares of Teck Resources on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.60. Since that recommendation, shares of Teck Resources have risen 61.8%. We continue to monitor TCK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Teck Resources