Teck Resources Limited (NYSE:TECK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $67.43.

TECK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating for the company. Eight Capital lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Teck Resources by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company’s stock valued at $694,542,000 after acquiring an additional 457,592 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Teck Resources by 8.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock valued at $480,000 after buying an additional 865 shares during the period. Ervin Investment Management LLC bought a new stake in shares of Teck Resources in the 1st quarter valued at $298,000. 180 Wealth Advisors LLC bought a new position in Teck Resources during the first quarter worth about $223,000. Finally, Hexagon Capital Partners LLC grew its stake in Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 1.5 %

Shares of TECK stock opened at $49.70 on Tuesday. The firm has a fifty day moving average of $48.67 and a 200-day moving average of $48.71. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 21.99 and a beta of 1.02. Teck Resources has a 52-week low of $34.38 and a 52-week high of $55.13. 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 posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the company earned $0.91 EPS. Teck Resources’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Teck Resources will post 1.94 earnings per share for the current fiscal year.

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.