Teck Resources Ltd. (NYSE:TCK) was upgraded by stock analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.
A number of other equities analysts also recently issued reports on TCK. Royal Bank Of Canada reiterated an “outperform” rating on shares of Teck Resources in a research report on Wednesday, June 8th. FBR & Co reiterated a “hold” rating on shares of Teck Resources in a research report on Wednesday, June 15th. Credit Suisse Group AG reiterated a “hold” rating on shares of Teck Resources in a research report on Tuesday, June 28th. TD Securities reiterated a “buy” rating and set a $20.00 price target (up previously from $17.00) on shares of Teck Resources in a research report on Friday, July 1st. Finally, Zacks Investment Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 1st. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Teck Resources presently has an average rating of “Hold” and an average price target of $15.10.
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 stock’s 50 day moving average price is $17.07 and its 200 day moving average price is $12.68. The company’s market cap is $10.39 billion.
Teck Resources (NYSE:TCK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. Teck Resources’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. Analysts expect that Teck Resources will post $0.56 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCK. Advisor Group Inc. bought a new position in Teck Resources during the second quarter worth about $105,000. Macquarie Group Ltd. bought a new position in Teck Resources during the second quarter worth about $150,000. Commonwealth Equity Services Inc raised its position in 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. Oak Associates Ltd. OH raised its position in 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. Finally, Sprott Inc. bought a new position in Teck Resources during the second quarter worth about $395,000. Hedge funds and other institutional investors own 47.23% of the company’s stock.
About Teck Resources
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.
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