Teck Resources (TSE:TECK.B) Trading Down 2.1% – What’s Next?

Teck Resources Ltd (TSE:TECK.B)’s share price traded down 2.1% during mid-day trading on Monday . The stock traded as low as C$44.11 and last traded at C$44.51. 1,162,417 shares were traded during mid-day trading, a decline of 18% from the average session volume of 1,420,002 shares. The stock had previously closed at C$45.45.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Teck Resources from C$65.00 to C$60.00 in a research report on Friday, July 25th. Raymond James Financial reduced their price target on shares of Teck Resources from C$71.00 to C$63.00 in a report on Friday, July 25th. Citigroup reduced their price target on shares of Teck Resources from C$68.00 to C$55.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Royal Bank Of Canada reduced their price target on shares of Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. Finally, National Bankshares reduced their price target on shares of Teck Resources from C$66.00 to C$62.50 in a report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$63.12.

Teck Resources Stock Performance

The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a market cap of C$22.79 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of -0.38 and a beta of 1.37. The firm’s 50 day moving average is C$51.02 and its 200 day moving average is C$52.81.

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.