Teck Resources (NYSE:TECK) Hits New 52-Week Low – Should You Sell?

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) hit a new 52-week low on Tuesday . The company traded as low as $37.75 and last traded at $37.99, with a volume of 1248602 shares trading hands. The stock had previously closed at $39.56.

Wall Street Analyst Weigh In

TECK has been the topic of several research analyst reports. Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective 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. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Trading Down 2.3 %

The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 70.24 and a beta of 1.02. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $41.87 and a two-hundred day moving average of $45.48.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

Institutional Trading of Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Nisa Investment Advisors LLC raised its position in Teck Resources by 1,291.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 2,970 shares during the last quarter. US Bancorp DE boosted its position in Teck Resources by 27.9% in the 3rd quarter. US Bancorp DE now owns 21,548 shares of the basic materials company’s stock valued at $1,126,000 after buying an additional 4,704 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Teck Resources during the third quarter worth $480,000. Intact Investment Management Inc. boosted its holdings in Teck Resources by 111.3% in the third quarter. Intact Investment Management Inc. now owns 227,392 shares of the basic materials company’s stock valued at $11,878,000 after acquiring an additional 119,767 shares during the last quarter. Finally, Jackson Square Capital LLC acquired a new stake in Teck Resources in the third quarter worth about $1,660,000. 78.06% of the stock is 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.