Teck Resources (TSE:TECK.B) Trading Down 1.5% - Here's Why

Teck Resources Ltd (TSE:TECK.B - Get Free Report)'s share price fell 1.5% on Wednesday . The stock traded as low as C$49.95 and last traded at C$50.74. 1,602,983 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 1,381,264 shares. The stock had previously closed at C$51.50.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TECK.B. Royal Bank Of Canada lowered their price target on shares of Teck Resources from C$84.00 to C$82.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. National Bankshares increased their target price on shares of Teck Resources from C$65.00 to C$66.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from C$72.00 to C$58.00 in a research report on Thursday, April 10th. Citigroup decreased their target price on shares of Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Finally, TD Securities decreased their target price on shares of Teck Resources from C$73.00 to C$62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$68.43.

Teck Resources Price Performance

The company's 50 day moving average price is C$52.48 and its 200-day moving average price is C$54.45. The stock has a market cap of C$26.36 billion, a P/E ratio of 18.45, a P/E/G ratio of -0.38 and a beta of 1.37. 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.