Teck Resources (NYSE:TECK) Reaches New 12-Month Low – Time to Sell?

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

Analyst Ratings Changes

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

Teck Resources Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The business has a 50 day simple moving average of $41.56 and a 200-day simple moving average of $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.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. On average, analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is presently 61.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $25,000. FPC Investment Advisory Inc. purchased a new stake in shares of Teck Resources during the fourth quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources in the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the 3rd quarter worth about $40,000. Finally, Community Bank N.A. acquired a new stake in Teck Resources during the 4th quarter worth about $33,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

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.