Teck Resources Ltd. (NYSE:TCK)‘s stock had its “sector perform” rating reiterated by research analysts at RBC Capital Markets in a research report issued to clients and investors on Tuesday.
TCK has been the topic of a number of other reports. BMO Capital Markets restated a “hold” rating and issued a $16.00 price target on shares of Teck Resources in a report on Wednesday, August 31st. Deutsche Bank AG restated a “sell” rating on shares of Teck Resources in a report on Thursday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of Teck Resources in a report on Wednesday, June 8th. FBR & Co lifted their target price on Teck Resources from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Wednesday, July 20th. Finally, Morgan Stanley raised Teck Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.00 to $18.00 in a research report on Thursday, September 15th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.81.
Shares of Teck Resources (NYSE:TCK) opened at 18.88 on Tuesday. The company’s 50-day moving average price is $16.95 and its 200 day moving average price is $12.56. The company’s market cap is $10.88 billion. Teck Resources has a 52 week low of $2.56 and a 52 week high of $19.08.
Teck Resources (NYSE:TCK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. On average, equities analysts forecast that Teck Resources will post $0.54 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in shares of Teck Resources by 822.8% in the second quarter. Capital Research Global Investors now owns 28,054,000 shares of the company’s stock valued at $369,363,000 after buying an additional 25,014,000 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Teck Resources during the second quarter valued at about $84,610,000. Slate Path Capital LP bought a new stake in shares of Teck Resources during the second quarter valued at about $80,535,000. Van ECK Associates Corp boosted its stake in shares of Teck Resources by 981.4% in the second quarter. Van ECK Associates Corp now owns 4,716,588 shares of the company’s stock valued at $62,117,000 after buying an additional 4,280,425 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Teck Resources during the second quarter valued at about $33,966,000. Institutional investors and hedge funds 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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