Teck Resources (NYSE:TECK) Stock Rating Upgraded by StockNews.com

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other analysts have also commented on the company. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Eight Capital lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. CIBC boosted their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Friday, July 12th. Finally, Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Stock Performance

Shares of NYSE:TECK traded down $0.69 during trading on Monday, hitting $51.13. 2,266,149 shares of the stock were exchanged, compared to its average volume of 3,433,706. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13. The company has a market capitalization of $26.12 billion, a price-to-earnings ratio of 22.62 and a beta of 1.02. The company’s fifty day simple moving average is $47.83 and its 200-day simple moving average is $48.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts expect that Teck Resources will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its stake in Teck Resources by 2.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 21,569 shares of the basic materials company’s stock valued at $912,000 after buying an additional 564 shares during the period. Balyasny Asset Management L.P. raised its stake in Teck Resources by 19.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,542,411 shares of the basic materials company’s stock valued at $149,738,000 after buying an additional 566,841 shares during the period. Caxton Associates LP raised its stake in Teck Resources by 26.9% in the fourth quarter. Caxton Associates LP now owns 1,316,507 shares of the basic materials company’s stock valued at $55,649,000 after buying an additional 279,296 shares during the period. Barometer Capital Management Inc. raised its stake in Teck Resources by 4.9% in the fourth quarter. Barometer Capital Management Inc. now owns 163,720 shares of the basic materials company’s stock valued at $6,920,000 after buying an additional 7,680 shares during the period. Finally, Cohen & Steers Inc. raised its stake in Teck Resources by 15.9% in the fourth quarter. Cohen & Steers Inc. now owns 171,042 shares of the basic materials company’s stock valued at $7,230,000 after buying an additional 23,414 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.