Scotiabank reaffirmed their sector perform rating on shares of Teck Resources Ltd. (NYSE:TCK) in a research note published on Wednesday morning. The firm currently has a $27.00 price objective on the stock.
A number of other research analysts have also weighed in on TCK. FBR & Co reissued a hold rating on shares of Teck Resources in a report on Wednesday, June 15th. Credit Suisse Group AG reissued a hold rating on shares of Teck Resources in a report on Tuesday, June 28th. TD Securities reissued a buy rating and issued a $20.00 target price (up from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Zacks Investment Research lowered shares of Teck Resources from a strong-buy rating to a hold rating in a report on Friday, July 1st. Finally, Deutsche Bank AG reissued a sell rating on shares of Teck Resources in a report on Thursday, July 7th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $16.21.
Teck Resources (NYSE:TCK) opened at 18.77 on Wednesday. Teck Resources has a one year low of $2.56 and a one year high of $19.08. The firm has a 50-day moving average of $17.61 and a 200 day moving average of $13.36. The company’s market capitalization is $10.82 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, beating analysts’ consensus estimates 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 firm earned $1.74 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm posted $0.14 earnings per share. Teck Resources’s revenue for the quarter was down 13.0% compared to the same quarter last year. Equities research analysts predict that Teck Resources will post $0.63 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $105,000. Fox Run Management L.L.C. purchased a new position in Teck Resources during the third quarter valued at approximately $191,000. Macquarie Group Ltd. purchased a new position in Teck Resources during the second quarter valued at approximately $150,000. Commonwealth Equity Services Inc increased 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 valued at $253,000 after buying an additional 900 shares in the last quarter. Finally, Sprott Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $395,000. 47.22% of the stock is owned by hedge funds and other 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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