Teck Resources (NYSE:TECK) Hits New 52-Week Low - What's Next?

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

Analyst Upgrades and Downgrades

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

Teck Resources Stock Performance

The firm has a market capitalization of $19.76 billion, a P/E ratio of 72.34 and a beta of 0.93. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $41.82 and a 200-day moving average of $45.35.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal 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. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.88%. Teck Resources's payout ratio is currently 61.82%.

Institutional Trading of Teck Resources

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

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.