Teck Resources (NYSE:TECK) Hits New 1-Year Low – Time to Sell?

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

Analyst Ratings Changes

Several equities research analysts have weighed in on TECK shares. Raymond James cut their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Trading Down 2.3 %

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’s 50-day moving average price is $41.87 and its 200 day moving average price is $45.48. The company has a market cap of $19.19 billion, a P/E ratio of 70.24 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

Hedge Funds Weigh In On Teck Resources

Several institutional investors and hedge funds have recently modified their holdings of TECK. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new position in shares of Teck Resources in the fourth quarter worth about $27,000. Community Bank N.A. bought a new stake in Teck Resources during the 4th quarter worth $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources during the 3rd quarter worth approximately $40,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.