Teck Resources (NYSE:TECK) Reaches New 1-Year Low – Should You Sell?

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) hit a new 52-week low during trading on Monday . The company traded as low as $35.14 and last traded at $35.68, with a volume of 521600 shares trading hands. The stock had previously closed at $37.45.

Analysts Set New Price Targets

TECK has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Bank of America upped their target price on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Raymond James dropped their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.22.

Teck Resources Stock Down 3.3 %

The stock’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $44.64. The stock has a market capitalization of $17.93 billion, a P/E ratio of 65.92 and a beta of 0.93. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. As a group, research analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.97%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Hedge Funds Weigh In On Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources in the 4th quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources during the fourth quarter worth about $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources in the fourth quarter worth about $27,000. Community Bank N.A. acquired a new position in Teck Resources in the fourth quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at approximately $40,000. 78.06% of the stock is currently owned by institutional investors.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.