Teck Resources (TSE:TECK.B) Reaches New 52-Week Low – Here’s What Happened

Teck Resources Ltd (TSE:TECK.B)’s share price hit a new 52-week low during 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on TECK.B. Canaccord Genuity Group cut their price target on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group cut their target price on shares of Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. National Bankshares decreased 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. Citigroup lowered their price objective 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. Finally, Raymond James upped their target price 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.29.

Teck Resources Stock Up 0.3 %

The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The company has a 50-day simple moving average of C$59.19 and a 200-day simple moving average of C$62.70. The firm has a market cap 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.

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.