Teck Resources (TSE:TECK.B) Sets New 52-Week Low – Here’s Why

Teck Resources Ltd (TSE:TECK.B) shares reached a new 52-week low on Monday . The stock traded as low as C$53.97 and last traded at C$54.00, with a volume of 369637 shares traded. The stock had previously closed at C$57.21.

Analyst Ratings Changes

A number of research firms have commented on TECK.B. Raymond James boosted 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 reduced their target price on Teck Resources from C$74.00 to C$68.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group dropped their price target on Teck Resources from C$80.00 to C$70.00 in a report on Monday, January 6th. Scotiabank reduced their price objective on Teck Resources from C$75.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group lowered their target price on Teck Resources from C$73.00 to C$71.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$76.29.

Teck Resources Stock Down 7.3 %

The firm has a market cap of C$27.16 billion, a price-to-earnings ratio of 19.01, a PEG ratio of -0.38 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 37.46. The firm’s 50 day simple moving average is C$60.06 and its two-hundred day simple moving average is C$63.37.

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.