Teck Resources (TECK) Earns “Buy” Rating from CIBC

CIBC restated their buy rating on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a research report released on Tuesday morning.

A number of other research analysts also recently issued reports on the company. MKM Partners restated a buy rating on shares of Teck Resources in a report on Friday, October 19th. Scotiabank restated a buy rating on shares of Teck Resources in a report on Tuesday. Canaccord Genuity restated a buy rating on shares of Teck Resources in a report on Tuesday. TD Securities restated a buy rating on shares of Teck Resources in a report on Sunday, October 28th. Finally, ValuEngine downgraded Teck Resources from a sell rating to a strong sell rating in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $31.43.

Shares of TECK traded down $0.12 during trading hours on Tuesday, hitting $21.23. The company had a trading volume of 3,971,245 shares, compared to its average volume of 3,835,199. The company has a market cap of $11.72 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.57 and a beta of 1.55. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.23. Teck Resources has a 52-week low of $18.17 and a 52-week high of $30.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.11). The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. Equities research analysts forecast that Teck Resources will post 3.44 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in shares of Teck Resources by 2.1% during the 2nd quarter. Van ECK Associates Corp now owns 7,948,385 shares of the basic materials company’s stock worth $202,286,000 after acquiring an additional 159,699 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Teck Resources by 452.2% during the 2nd quarter. Janus Henderson Group PLC now owns 7,561,492 shares of the basic materials company’s stock worth $192,508,000 after acquiring an additional 6,192,051 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Teck Resources by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 6,752,038 shares of the basic materials company’s stock worth $162,604,000 after acquiring an additional 27,519 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Teck Resources by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,910,205 shares of the basic materials company’s stock worth $150,415,000 after acquiring an additional 309,739 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Teck Resources by 9.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,028,354 shares of the basic materials company’s stock worth $102,903,000 after acquiring an additional 349,027 shares during the period. Hedge funds and other institutional investors own 54.51% of the company’s stock.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

Featured Story: Asset Allocation

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