TECK RESOURCES LTD. $14 - Toronto symbol TCK.B

TECK RESOURCES LTD. $14 (Toronto symbol TCK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 566.8 million; Market cap: $7.9 billion; Price-to-sales ratio: 1.0; Dividend yield: 6.4%; TSINetwork Rating: Average; www.teck.com) is down 62.2% since we made it our #1 pick for 2013.

That’s mainly because slowing industrial activity, mainly in Asia, has hurt demand for Teck’s metallurgical coal, a key ingredient in steelmaking. Lower oil prices have also dampened the outlook for its 20.0%-owned Fort Hills oil sands project in Alberta, which is scheduled to start up in late 2017.

The company has a long history of controlling its costs, which should help it stay profitable until coal and oil prices improve. It has also pledged to maintain its annual $0.90-a-share dividend, which yields 6.4%.

Teck is still a buy.

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