Teck Resources (TECK) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Teck Resources (NYSE: TECK):

• 10/8/2024 – Teck Resources had its price target raised by analysts at Scotiabank from $78.00 to $79.00. They now have a “sector outperform” rating on the stock.
• 10/7/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/2/2024 – Teck Resources was upgraded by analysts at Citigroup Inc. to a “hold” rating.
• 9/25/2024 – Teck Resources was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/17/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 9/9/2024 – Teck Resources was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/4/2024 – Teck Resources was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $78.00 price target on the stock, up previously from $76.00.

Teck Resources Price Performance

NYSE TECK opened at $51.20 on Monday. The business has a 50 day simple moving average of $48.04 and a 200 day simple moving average of $48.55. Teck Resources Limited has a 52-week low of $34.38 and a 52-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 stock has a market cap of $26.15 billion, a price-to-earnings ratio of 22.65 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results 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 the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Analysts anticipate that Teck Resources Limited will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TECK. Vanguard Group Inc. boosted its holdings in Teck Resources by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after acquiring an additional 290,034 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after purchasing an additional 203,607 shares during the period. CIBC Asset Management Inc boosted its stake in Teck Resources by 1.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock worth $303,161,000 after purchasing an additional 90,089 shares during the period. Principal Financial Group Inc. boosted its stake in Teck Resources by 7.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock worth $292,441,000 after purchasing an additional 416,070 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Teck Resources by 10.3% in the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock valued at $280,655,000 after acquiring an additional 546,801 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

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.