Teck Resources (TSE:TECK.B) Stock Price Down 2.8% - Should You Sell?

Key Points

• Teck Resources Ltd experienced a stock decline of 2.8%, trading between C$43.85 and C$45.27.
• Analysts from multiple research firms have revised their price targets for Teck Resources downward, with Scotiabank setting it at C$57.00, a significant drop from C$66.00.
• The company, a major player in diversified mining, has a current market capitalization of C$22.13 billion and a consensus rating of "Moderate Buy" among analysts.

Shares of Teck Resources Ltd (TSE:TECK.B - Get Free Report) were down 2.8% during trading on Thursday . The company traded as low as C$43.85 and last traded at C$45.27. Approximately 3,059,918 shares were traded during mid-day trading, an increase of 118% from the average daily volume of 1,402,577 shares. The stock had previously closed at C$46.59.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial upped their target price on shares of Teck Resources from C$63.00 to C$64.00 in a report on Thursday, August 21st. TD Securities lowered their price target on Teck Resources from C$64.00 to C$60.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. National Bankshares dropped their price objective on Teck Resources from C$66.00 to C$62.50 in a research note on Friday, July 25th. Citigroup cut their price objective on Teck Resources from C$68.00 to C$55.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Finally, Royal Bank Of Canada decreased their target price on Teck Resources from C$82.00 to C$67.00 in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of "Moderate Buy" and an average target price of C$64.12.

Teck Resources Stock Up 3.7%

The stock has a market cap of C$27.43 billion, a price-to-earnings ratio of 96.74, a price-to-earnings-growth ratio of -0.38 and a beta of 1.60. The firm's fifty day moving average price is C$48.08 and its two-hundred day moving average price is C$50.78. The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97.

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.