Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, October 18th.
Several other research analysts have also weighed in on TECK. Bank of America Corporation upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Deutsche Bank AG reiterated a “buy” rating and issued a $23.00 price target (down previously from $24.00) on shares of Teck Resources in a research note on Sunday, June 25th. Finally, MKM Partners reiterated a “buy” rating and issued a $28.00 price target (up previously from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the stock. Teck Resources currently has an average rating of “Buy” and a consensus price target of $31.18.
Teck Resources (NYSE:TECK) traded up 0.10% during trading on Wednesday, reaching $20.86. The company’s stock had a trading volume of 7,540,643 shares. The firm has a market capitalization of $12.05 billion, a P/E ratio of 7.17 and a beta of 1.20. Teck Resources has a 52 week low of $14.56 and a 52 week high of $26.60. The firm has a 50-day moving average price of $22.17 and a 200-day moving average price of $20.61.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Teck Resources had a net margin of 19.72% and a return on equity of 15.61%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. Teck Resources’s revenue was up 62.0% compared to the same quarter last year. On average, equities analysts anticipate that Teck Resources will post $3.55 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of TECK. Atria Investments LLC acquired a new stake in shares of Teck Resources during the second quarter worth $231,000. Addison Capital Co acquired a new stake in shares of Teck Resources during the second quarter worth $423,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Teck Resources during the second quarter worth $623,000. Nexus Investment Management Inc. acquired a new stake in shares of Teck Resources during the second quarter worth $182,000. Finally, Winslow Evans & Crocker Inc. acquired a new stake in shares of Teck Resources during the second quarter worth $108,000. Institutional investors own 47.17% of the company’s stock.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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