Teck Resources (TSE:TECK.B) Stock Price Down 2.1% - Should You Sell?

Key Points

• Teck Resources' stock experienced a decline of 2.1% on Monday, closing at C$44.51, following an average daily volume drop of 18%.
• Several analysts have cut their price targets for Teck Resources, with Scotiabank's lowering it from C$66.00 to C$57.00, reflecting a cautious outlook on the stock.
• Despite recent downgrades, the overall consensus remains a "Moderate Buy," with an average target price of C$63.12 from three hold ratings and six buy ratings.

Shares of Teck Resources Ltd (TSE:TECK.B - Get Free Report) dropped 2.1% on Monday . The company traded as low as C$44.11 and last traded at C$44.51. Approximately 1,162,417 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 1,420,002 shares. The stock had previously closed at C$45.45.

Wall Street Analyst Weigh In

TECK.B has been the subject of several research reports. Jefferies Financial Group reduced their price objective on shares of Teck Resources from C$65.00 to C$60.00 in a research report on Friday, July 25th. UBS Group decreased their target price on shares of Teck Resources from C$67.00 to C$55.00 in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. Citigroup decreased their target price 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. Finally, Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$72.00 to C$58.00 in a report on Friday, July 18th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$63.12.

Teck Resources Stock Up 0.4%

The stock has a market capitalization of C$22.91 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of -0.38 and a beta of 1.37. The firm's fifty day simple moving average is C$50.62 and its 200 day simple moving average is C$52.58. The company has a debt-to-equity ratio of 37.46, a quick ratio of 0.97 and a current ratio of 1.48.

Teck Resources Company Profile

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.