Other analysts have also issued reports about the stock. Raymond James Financial Inc. upgraded shares of Teck Resources from an underperform rating to a market perform rating in a report on Thursday, August 4th. Clarkson Capital raised shares of Teck Resources from a neutral rating to a buy rating in a research report on Monday, July 18th. RBC Capital Markets downgraded shares of Teck Resources from an outperform rating to a sector perform rating and lifted their target price for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. Zacks Investment Research downgraded shares of Teck Resources from a buy rating to a hold rating in a research report on Saturday, July 30th. Finally, FBR & Co lifted their price target on shares of Teck Resources from $15.00 to $16.00 and gave the stock a mkt perform rating in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $16.55.
Shares of Teck Resources (NYSE:TCK) traded down 1.36% on Tuesday, reaching $20.37. The company had a trading volume of 6,949,184 shares. The stock has a 50-day moving average price of $17.81 and a 200-day moving average price of $13.63. Teck Resources has a 12 month low of $2.56 and a 12 month high of $20.84. The stock’s market cap is $11.74 billion.
Teck Resources (NYSE:TCK) last posted its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company earned $1.74 billion during the quarter, compared to analyst estimates of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. Teck Resources’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. Analysts predict that Teck Resources will post $0.63 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in TCK. Advisor Group Inc. bought a new stake in Teck Resources during the second quarter valued at about $105,000. Fox Run Management L.L.C. bought a new stake in Teck Resources during the third quarter valued at about $191,000. Macquarie Group Ltd. bought a new stake in Teck Resources during the second quarter valued at about $150,000. Commonwealth Equity Services Inc boosted its stake in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the period. Finally, Sprott Inc. bought a new stake in Teck Resources during the second quarter valued at about $395,000. 47.22% of the stock is owned by institutional investors.
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.
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