StockNews.com Upgrades Teck Resources (NYSE:TECK) to Hold

by · The Markets Daily

Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other research analysts also recently weighed in on the company. CIBC boosted their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average price target of $67.00.

View Our Latest Report on Teck Resources

Teck Resources Stock Down 5.0 %

TECK opened at $48.59 on Monday. The firm has a market cap of $24.82 billion, a P/E ratio of 21.50 and a beta of 1.02. The business’s fifty day simple moving average is $47.85 and its 200 day simple moving average is $48.40. Teck Resources has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts anticipate that Teck Resources will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently bought and sold shares of TECK. Daymark Wealth Partners LLC boosted its position in shares of Teck Resources by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after buying an additional 242 shares during the period. First Hawaiian Bank boosted its holdings in Teck Resources by 6.0% in the 1st quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock worth $254,000 after acquiring an additional 313 shares during the period. Cigna Investments Inc. New grew its position in Teck Resources by 3.8% in the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 317 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Teck Resources by 4.0% during the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 343 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Company Profile

(Get Free Report)

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.

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