Teck Resources (TSE:TECK.B) Reaches New 1-Year Low – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$40.28 and last traded at C$41.50, with a volume of 208899 shares trading hands. The stock had previously closed at C$42.61.

Analyst Upgrades and Downgrades

TECK.B has been the subject of several research reports. Citigroup cut their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group cut their target price on Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. Scotiabank lowered their price target on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. National Bankshares reduced their target price on Teck Resources from C$77.50 to C$75.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Finally, Raymond James raised their price target on Teck Resources from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.29.

Teck Resources Stock Up 1.5 %

The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The company has a market capitalization of C$22.14 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company’s fifty day moving average is C$58.35 and its 200-day moving average is C$62.40.

Teck Resources Company Profile

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.