Teck Resources (TSE:TECK.B) Trading 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.

Teck Resources Ltd (TSE:TECK.B - Get Free Report) traded down 2.1% on Monday . The company traded as low as C$44.11 and last traded at C$44.51. 1,162,417 shares were traded during 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 Upgrades and Downgrades

Several research firms recently issued reports on TECK.B. Royal Bank Of Canada cut their target price on Teck Resources from C$82.00 to C$67.00 in a research note on Friday, July 25th. Raymond James Financial decreased their price objective on shares of Teck Resources from C$71.00 to C$63.00 in a report on Friday, July 25th. National Bankshares cut their target price on shares of Teck Resources from C$66.00 to C$62.50 in a research report on Friday, July 25th. Desjardins downgraded shares of Teck Resources from a "buy" rating to a "hold" rating and cut their price objective for the company from C$72.00 to C$58.00 in a research report on Friday, July 18th. Finally, TD Securities cut their price objective on shares of Teck Resources from C$64.00 to C$60.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and a consensus target price of C$63.12.

Teck Resources Stock Performance

The company has a market cap of C$22.82 billion, a P/E ratio of 15.98, a PEG ratio of -0.38 and a beta of 1.37. The firm has a 50 day moving average of C$50.78 and a 200-day moving average of C$52.70. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 37.46.

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.