Teck Resources (TSE:TECK.B) Hits New 52-Week Low - Here's What Happened

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$40.28 and last traded at C$41.50, with a volume of 208899 shares trading hands. The stock had previously closed at C$42.61.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TECK.B. Canaccord Genuity Group dropped their target price on shares of Teck Resources from C$73.00 to C$71.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Scotiabank decreased their target price on Teck Resources from C$75.00 to C$73.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price target on Teck Resources from C$72.00 to C$58.00 in a research note on Thursday. Jefferies Financial Group reduced their price objective on Teck Resources from C$80.00 to C$70.00 in a research note on Monday, January 6th. Finally, Citigroup lowered their target price on shares of Teck Resources from C$74.00 to C$68.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average price target of C$75.00.

Teck Resources Trading Up 5.2 %

The business's fifty day simple moving average is C$56.24 and its two-hundred day simple moving average is C$61.45. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46. The company has a market cap of C$23.91 billion, a price-to-earnings ratio of 16.74, a PEG ratio of -0.38 and a beta of 1.37.

About Teck Resources

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.