Teck Resources Ltd. (NYSE:TCK) – Equities research analysts at Raymond James Financial upped their Q3 2017 earnings per share estimates for shares of Teck Resources in a research report issued to clients and investors on Thursday. Raymond James Financial analyst A. Terentiew now anticipates that the brokerage will post earnings of $0.45 per share for the quarter, up from their previous forecast of $0.40. Raymond James Financial has a “Market Perform” rating and a $21.00 price objective on the stock. Raymond James Financial also issued estimates for Teck Resources’ Q4 2017 earnings at $0.40 EPS and FY2018 earnings at $1.38 EPS.
Other equities analysts have also issued research reports about the stock. TD Securities restated a “buy” rating and issued a $22.00 target price on shares of Teck Resources in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Saturday, July 9th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, July 18th. Morgan Stanley upgraded shares of Teck Resources from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $7.00 to $18.00 in a report on Thursday, September 15th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Teck Resources in a report on Tuesday, June 28th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Teck Resources currently has a consensus rating of “Hold” and a consensus target price of $15.10.
Shares of Teck Resources (NYSE:TCK) opened at 18.03 on Monday. Teck Resources has a 52-week low of $2.56 and a 52-week high of $19.08. The company has a 50 day moving average of $17.07 and a 200-day moving average of $12.68. The company’s market cap is $10.39 billion.
Teck Resources (NYSE:TCK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, beating the Zacks’ 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 business earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 13.0% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the stock. Montrusco Bolton Investments Inc. acquired a new stake in shares of Teck Resources during the second quarter worth approximately $8,035,000. Acadian Asset Management LLC acquired a new stake in shares of Teck Resources during the second quarter worth approximately $33,966,000. Foundation Resource Management Inc. boosted its stake in shares of Teck Resources by 0.5% in the second quarter. Foundation Resource Management Inc. now owns 1,742,457 shares of the company’s stock worth $22,948,000 after buying an additional 9,174 shares during the last quarter. Oak Associates Ltd. OH boosted its stake 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 last quarter. Finally, One Capital Management LLC boosted its stake in shares of Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock worth $1,469,000 after buying an additional 26,451 shares during the last quarter. Institutional investors 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.