Teck Resources (NYSE:TECK) Reaches New 52-Week Low – What’s Next?

Teck Resources Limited (NYSE:TECK) (TSE:TECK) shares hit a new 52-week low on Monday . The stock traded as low as $37.15 and last traded at $37.61, with a volume of 2032164 shares changing hands. The stock had previously closed at $39.78.

Wall Street Analyst Weigh In

TECK has been the subject of a number of recent analyst reports. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered 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 report on Thursday, January 16th. Finally, Raymond James cut 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 report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Stock Up 3.8 %

The company has a market capitalization of $19.86 billion, a PE ratio of 72.80 and a beta of 0.93. The business has a 50-day moving average of $41.70 and a 200 day moving average of $45.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.88%. Teck Resources’s dividend payout ratio (DPR) is 61.82%.

Hedge Funds Weigh In On Teck Resources

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

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.