Teck Resources (NYSE:TECK) Upgraded at Citigroup

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by analysts at Citigroup to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

Several other equities research analysts also recently commented on TECK. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. CIBC upped their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. Finally, Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Trading Down 2.0 %

Shares of Teck Resources stock opened at $51.34 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market cap of $26.23 billion, a price-to-earnings ratio of 22.72 and a beta of 1.02. The business has a fifty day simple moving average of $47.56 and a 200-day simple moving average of $48.20. Teck Resources has a fifty-two week low of $34.38 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Teck Resources will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. First Hawaiian Bank increased its position 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 purchasing an additional 313 shares during the last quarter. Cigna Investments Inc. New increased its position in Teck Resources by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after buying an additional 317 shares during the period. Candriam S.C.A. increased its position in Teck Resources by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock worth $426,000 after buying an additional 343 shares during the period. Daymark Wealth Partners LLC increased its position in Teck Resources by 4.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 8,532 shares of the basic materials company’s stock worth $409,000 after buying an additional 347 shares during the period. Finally, Evergreen Capital Management LLC increased its position in Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after buying an additional 365 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

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.