Teck Resources Ltd. (NYSE:TCK)‘s stock had its “buy” rating reaffirmed by TD Securities in a note issued to investors on Sunday. They currently have a $30.00 target price on the stock. TD Securities’ price objective points to a potential upside of 66.39% from the stock’s previous close.
Several other equities research analysts have also weighed in on the company. Berenberg Bank started coverage on Teck Resources in a research report on Friday, August 19th. They set a “sell” rating and a $10.00 price target on the stock. Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. Deutsche Bank AG restated a “sell” rating on shares of Teck Resources in a research report on Thursday, July 7th. FBR & Co lifted their price target on Teck Resources from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Wednesday, July 20th. Finally, Royal Bank Of Canada lowered Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $16.00 to $23.00 in a research report on Friday, August 12th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Teck Resources currently has a consensus rating of “Hold” and an average price target of $15.10.
Shares of Teck Resources (NYSE:TCK) traded down 3.58% on Friday, reaching $18.03. The company’s stock had a trading volume of 10,778,336 shares. Teck Resources has a 52-week low of $2.56 and a 52-week high of $19.08. The stock has a 50-day moving average of $17.07 and a 200 day moving average of $12.68. The company’s market cap is $10.39 billion.
Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. On average, equities research analysts forecast that Teck Resources will post $0.56 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. acquired a new position in Teck Resources during the second quarter worth $105,000. Macquarie Group Ltd. acquired a new position in Teck Resources during the second quarter worth $150,000. Commonwealth Equity Services Inc raised 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 worth $253,000 after buying an additional 900 shares during the period. Oak Associates Ltd. OH raised its position in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock worth $317,000 after buying an additional 400 shares during the period. Finally, Sprott Inc. acquired a new position in Teck Resources during the second quarter worth $395,000. 47.23% 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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