StockNews.com upgraded shares of Teck Resources (NYSE:TECK – Free Report) (TSE:TECK) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
A number of other analysts have also weighed in on TECK. Eight Capital lowered shares of Teck Resources from a strong-buy rating to a hold rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $56.00 to $54.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Paradigm Capital upgraded Teck Resources to a moderate buy rating in a research report on Friday, July 26th. TD Securities upgraded Teck Resources to a strong-buy rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an outperform rating for the company. Three research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $67.00.
Get Our Latest Stock Analysis on Teck Resources
Teck Resources Trading Up 1.3 %
Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Teck Resources will post 2 EPS for the current fiscal year.
Institutional Investors Weigh In On Teck Resources
A number of institutional investors have recently modified their holdings of the company. LVW Advisors LLC acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $215,000. Strategic Advisors LLC bought a new stake in Teck Resources in the third quarter worth approximately $1,506,000. Cypress Wealth Services LLC acquired a new position in Teck Resources in the third quarter valued at approximately $210,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its position in shares of Teck Resources by 2.8% during the 3rd 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. 78.06% of the stock is owned by institutional investors.
About Teck Resources
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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