Teck Resources (NYSE:TECK) Upgraded to “Hold” by StockNews.com

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

TECK has been the subject of a number of other research reports. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. CIBC lifted their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on Teck Resources from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.

Teck Resources Stock Down 1.5 %

TECK stock opened at $49.56 on Thursday. The stock has a market capitalization of $25.32 billion, a P/E ratio of 21.93 and a beta of 1.02. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources has a 12 month low of $34.38 and a 12 month high of $55.13. The firm has a 50-day moving average price of $48.80 and a 200-day moving average price of $48.74.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. As a group, equities research analysts anticipate that Teck Resources will post 1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Teck Resources by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after purchasing an additional 290,034 shares during the last quarter. Janus Henderson Group PLC grew its stake in Teck Resources by 2.4% during the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the last quarter. CIBC Asset Management Inc grew its stake in Teck Resources by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock valued at $303,161,000 after purchasing an additional 90,089 shares during the last quarter. Principal Financial Group Inc. grew its stake in Teck Resources by 7.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock valued at $292,441,000 after purchasing an additional 416,070 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Teck Resources by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock valued at $280,655,000 after purchasing an additional 546,801 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

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.