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

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. CIBC raised their price target on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on Teck Resources from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Scotiabank upped their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $67.43.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $50.52 on Wednesday. The company has a 50 day moving average of $48.40 and a 200-day moving average of $48.62. The company has a market cap of $25.81 billion, a PE ratio of 22.35 and a beta of 1.02. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. As a group, equities research analysts forecast that Teck Resources will post 2 earnings per share for the current fiscal year.

Institutional Trading of Teck Resources

Several large investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Teck Resources during the first quarter worth approximately $485,000. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 290,034 shares in the last quarter. Country Club Bank acquired a new position in shares of Teck Resources during the second quarter valued at about $1,747,000. Quattro Financial Advisors LLC bought a new stake in shares of Teck Resources during the first quarter worth about $927,000. Finally, Atria Investments Inc acquired a new stake in shares of Teck Resources in the 1st quarter worth about $1,141,000. Institutional investors and hedge funds 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.