Teck Resources (NYSE:TECK) Hits New 52-Week Low at $16.41

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $16.41 and last traded at $16.42, with a volume of 660724 shares. The stock had previously closed at $16.72.

A number of analysts have recently commented on the company. Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. B. Riley restated a “buy” rating on shares of Teck Resources in a research note on Friday, July 12th. ValuEngine downgraded Teck Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. MKM Partners restated a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of Teck Resources in a research note on Wednesday, April 24th. Finally, TD Securities downgraded Teck Resources to a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and a consensus price target of $29.33.

The company has a market cap of $9.18 billion, a PE ratio of 5.25 and a beta of 1.38. The business has a 50-day simple moving average of $20.03 and a 200-day simple moving average of $21.87. The company has a quick ratio of 1.58, a current ratio of 2.47 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a return on equity of 8.49% and a net margin of 20.37%. During the same quarter in the prior year, the company posted $1.12 EPS. On average, research analysts forecast that Teck Resources Ltd will post 2.86 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in TECK. JPMorgan Chase & Co. raised its holdings in shares of Teck Resources by 207.9% during the second quarter. JPMorgan Chase & Co. now owns 3,354,771 shares of the basic materials company’s stock valued at $76,555,000 after acquiring an additional 2,265,350 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Teck Resources by 191.3% during the first quarter. Jennison Associates LLC now owns 2,101,280 shares of the basic materials company’s stock valued at $48,708,000 after acquiring an additional 1,379,898 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Teck Resources by 28.8% during the second quarter. BlackRock Inc. now owns 4,549,382 shares of the basic materials company’s stock valued at $104,909,000 after acquiring an additional 1,016,448 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Teck Resources during the first quarter valued at approximately $26,922,000. Finally, National Pension Service acquired a new position in shares of Teck Resources during the second quarter valued at approximately $25,950,000. 53.53% of the stock is owned by institutional investors and hedge funds.

About Teck Resources (NYSE:TECK)

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.