Teck Resources (NYSE:TECK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a report released on Wednesday morning.

TECK has been the topic of several other research reports. BMO Capital Markets initiated coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price target on Teck Resources from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. CIBC upped their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.

Teck Resources Trading Up 2.0 %

Shares of Teck Resources stock opened at $50.33 on Wednesday. Teck Resources has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The company has a market capitalization of $25.47 billion, a P/E ratio of 24.67 and a beta of 1.02. The company has a fifty day moving average of $48.26 and a 200 day moving average of $48.61.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Teck Resources will post 2 earnings per share for the current fiscal year.

Institutional Trading of Teck Resources

Several institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the last quarter. Headlands Technologies LLC bought a new stake in Teck Resources during the 2nd quarter valued at about $38,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the period. Blue Trust Inc. grew its position in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after buying an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.