Deutsche Bank Aktiengesellschaft Lowers Teck Resources (NYSE:TECK) to Hold

Deutsche Bank Aktiengesellschaft cut shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $50.00 target price on the basic materials company’s stock.

TECK has been the topic of several other research reports. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. BMO Capital Markets started coverage on shares of Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating for the company. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. Scotiabank raised their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Trading Up 1.2 %

Teck Resources stock opened at $47.35 on Friday. The stock has a market cap of $24.19 billion, a P/E ratio of 20.95 and a beta of 1.02. Teck Resources has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The firm’s fifty day moving average price is $48.73 and its 200-day moving average price is $48.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48.

Institutional Trading of Teck Resources

Several hedge funds have recently added to or reduced their stakes in TECK. Hexagon Capital Partners LLC increased its holdings in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the period. Eastern Bank bought a new position in Teck Resources during the 3rd quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in Teck Resources during the 2nd quarter worth approximately $38,000. Bruce G. Allen Investments LLC increased its stake in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. 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.