Teck Resources (TSE:TECK.B) Reaches New 12-Month Low – Here’s Why

Teck Resources Ltd (TSE:TECK.B)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$50.55 and last traded at C$51.19, with a volume of 179475 shares trading hands. The stock had previously closed at C$53.61.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. National Bankshares dropped their price target on shares of 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. Canaccord Genuity Group dropped their target price on shares of Teck Resources from C$73.00 to C$71.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Raymond James raised their price target on shares of Teck Resources from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Citigroup lowered their price objective on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Jefferies Financial Group reduced their target price on Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$76.29.

Teck Resources Stock Up 0.3 %

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$26.91 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The company’s fifty day moving average is C$59.19 and its 200-day moving average is C$62.70.

About Teck Resources

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.