Upgrade Alert for Teck Resources (TCK)
Teck Resources (NYSE:TCK) was upgraded from Neutral to Outperform at Credit Suisse 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. The 200-day and 50-day moving averages have moved 0.85% higher and 4.96% higher over the past week, respectively.
Teck Resources (NYSE:TCK) is currently priced 59.5% above its average consensus analyst 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