Teck Resources (NYSE:TECK) Reaches New 52-Week Low - Time to Sell?

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK's stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $37.15 and last traded at $37.61, with a volume of 2032164 shares traded. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 note on Thursday, January 16th. National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Bank of America lifted their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday. Finally, 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 report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.22.

Teck Resources Stock Performance

The stock's fifty day simple moving average is $41.68 and its two-hundred day simple moving average is $45.02. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 76.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

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

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio is presently 61.82%.

Institutional Trading of Teck Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares during the period. Assetmark Inc. acquired a new position in shares of Teck Resources during the third quarter worth $954,000. Atria Investments Inc lifted its holdings in Teck Resources by 18.3% in the 3rd quarter. Atria Investments Inc now owns 31,759 shares of the basic materials company's stock worth $1,659,000 after buying an additional 4,914 shares in the last quarter. Regal Partners Ltd boosted its holdings in Teck Resources by 1.4% in the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock valued at $142,562,000 after purchasing an additional 38,949 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Teck Resources by 29.9% during the 3rd quarter. Metis Global Partners LLC now owns 38,324 shares of the basic materials company's stock valued at $2,002,000 after buying an additional 8,825 shares during the last quarter. 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.