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

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other research analysts have also commented on TECK. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from $76.00 to $78.00 in a research report on Wednesday, September 4th. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. BMO Capital Markets assumed coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Teck Resources in a research report on Thursday, July 25th. Finally, CIBC lifted their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Teck Resources Stock Up 0.7 %

Shares of TECK opened at $47.10 on Tuesday. The company’s 50-day moving average price is $46.90 and its 200 day moving average price is $47.55. Teck Resources has a 12-month low of $34.38 and a 12-month high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market cap of $24.06 billion, a P/E ratio of 20.84 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts forecast that Teck Resources will post 2 earnings per share for the current year.

Hedge Funds Weigh In On Teck Resources

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of Teck Resources in the 2nd quarter valued at about $540,000. Clearbridge Investments LLC increased its stake in Teck Resources by 2.7% in the second quarter. Clearbridge Investments LLC now owns 1,065,704 shares of the basic materials company’s stock valued at $51,047,000 after purchasing an additional 28,243 shares during the last quarter. Cetera Investment Advisers increased its stake in Teck Resources by 3.0% in the second quarter. Cetera Investment Advisers now owns 38,099 shares of the basic materials company’s stock valued at $1,825,000 after purchasing an additional 1,127 shares during the last quarter. Creative Planning raised its holdings in Teck Resources by 4.4% during the second quarter. Creative Planning now owns 37,821 shares of the basic materials company’s stock worth $1,812,000 after purchasing an additional 1,605 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of Teck Resources by 13.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 14,283 shares of the basic materials company’s stock worth $684,000 after buying an additional 1,691 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

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.