Teck Resources Ltd. (NYSE:TCK) – Analysts at Raymond James Financial upped their FY2016 EPS estimates for Teck Resources in a report issued on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the firm will post earnings per share of $1.14 for the year, up from their prior estimate of $1.00. Raymond James Financial currently has a “Market Perform” rating and a $21.00 target price on the stock. Raymond James Financial also issued estimates for Teck Resources’ Q4 2016 earnings at $0.88 EPS, Q1 2017 earnings at $0.62 EPS, Q2 2017 earnings at $0.38 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2017 earnings at $1.87 EPS.
Teck Resources (NYSE:TCK) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The company earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year.
TCK has been the subject of a number of other research reports. Deutsche Bank AG raised Teck Resources from a “sell” rating to a “hold” rating and upped their target price for the stock from $11.50 to $20.00 in a research report on Monday, October 3rd. Zacks Investment Research raised Teck Resources from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, October 5th. Sanford C. Bernstein reissued a “sell” rating and issued a $10.00 price objective on shares of Teck Resources in a research report on Friday, August 19th. TD Securities reissued a “buy” rating and issued a $24.00 price objective on shares of Teck Resources in a research report on Thursday, August 25th. Finally, Scotiabank reissued a “sector perform” rating and issued a $27.00 price objective on shares of Teck Resources in a research report on Wednesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Teck Resources presently has a consensus rating of “Hold” and an average target price of $15.88.
Shares of Teck Resources (NYSE:TCK) traded up 2.954% during trading on Friday, hitting $18.645. 7,226,752 shares of the stock traded hands. The firm’s 50-day moving average price is $17.55 and its 200-day moving average price is $13.28. Teck Resources has a 52 week low of $2.56 and a 52 week high of $19.08. The company’s market cap is $10.75 billion.
A number of institutional investors have recently bought and sold shares of TCK. Wetherby Asset Management Inc. boosted its position in shares of Teck Resources by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 33,318 shares of the company’s stock worth $439,000 after buying an additional 336 shares during the period. Oak Associates Ltd. OH boosted its position in shares of Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock worth $317,000 after buying an additional 400 shares during the period. Commonwealth Equity Services Inc boosted its position in shares of Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock worth $253,000 after buying an additional 900 shares during the period. Raymond James & Associates boosted its position in shares of Teck Resources by 3.4% in the second quarter. Raymond James & Associates now owns 42,964 shares of the company’s stock worth $566,000 after buying an additional 1,430 shares during the period. Finally, Capstone Asset Management Co. boosted its position in shares of Teck Resources by 4.7% in the third quarter. Capstone Asset Management Co. now owns 33,644 shares of the company’s stock worth $607,000 after buying an additional 1,520 shares during the period. Institutional investors and hedge funds own 47.23% of the company’s stock.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
Receive News & Ratings for Teck Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.