Teck Resources Ltd (TECK) Given Consensus Rating of “Buy” by Brokerages

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned an average recommendation of “Buy” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.94.

Several equities research analysts have recently weighed in on TECK shares. ValuEngine cut Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. BidaskClub lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Berenberg Bank reaffirmed a “buy” rating and issued a $27.50 price target on shares of Teck Resources in a research note on Tuesday, October 31st. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st.

Shares of Teck Resources (TECK) traded up $1.31 during trading hours on Tuesday, hitting $27.70. 6,450,339 shares of the company were exchanged, compared to its average volume of 4,030,972. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $15,802.85, a P/E ratio of 8.77, a P/E/G ratio of 1.12 and a beta of 1.40. Teck Resources has a 52 week low of $14.56 and a 52 week high of $30.79.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Teck Resources by 2.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,600 shares of the basic materials company’s stock valued at $1,511,000 after purchasing an additional 2,400 shares during the last quarter. Comerica Bank boosted its holdings in Teck Resources by 6.9% in the third quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 4,108 shares during the period. Oak Associates Ltd. OH boosted its holdings in Teck Resources by 5.3% in the third quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock valued at $1,769,000 after purchasing an additional 4,250 shares during the period. Bartlett & Co. LLC purchased a new position in Teck Resources in the fourth quarter valued at $118,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Teck Resources by 14.4% in the third quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 4,514 shares during the period. Institutional investors and hedge funds own 52.97% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/18/teck-resources-ltd-teck-given-consensus-rating-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply