Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by stock analysts at TD Securities to a “buy” rating in a research note issued to investors on Thursday, The Fly reports.
Other equities analysts have also issued reports about the stock. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research report on Sunday, October 7th. MKM Partners reiterated a “buy” rating on shares of Teck Resources in a research note on Friday, October 19th. Seaport Global Securities upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Monday, October 15th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Deutsche Bank set a $34.00 price objective on shares of Teck Resources and gave the stock a “buy” rating in a research note on Saturday, September 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.43.
NYSE:TECK opened at $21.72 on Thursday. Teck Resources has a 52 week low of $18.17 and a 52 week high of $30.80. The stock has a market cap of $12.32 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.39 and a current ratio of 2.30.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.40 billion. Equities research analysts anticipate that Teck Resources will post 3.4 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its stake in Teck Resources by 71,409.9% during the second quarter. Advisors Asset Management Inc. now owns 107,980 shares of the basic materials company’s stock worth $107,000 after buying an additional 107,829 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $111,000. Riverhead Capital Management LLC boosted its stake in shares of Teck Resources by 246.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,200 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 3,700 shares in the last quarter. FIL Ltd acquired a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $169,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $250,000. Hedge funds and other institutional investors own 53.46% of the company’s stock.
Teck Resources Company Profile
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.
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