Shares of Teck Resources Ltd. (NYSE:TCK) have received a consensus rating of “Hold” from the twenty-eight research firms that are currently covering the stock. Six analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.97.
Several analysts have recently commented on the company. Dundee Securities raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Friday. CIBC reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Thursday. Scotiabank reaffirmed a “sector perform” rating and set a $27.00 price target on shares of Teck Resources in a research report on Wednesday. Zacks Investment Research raised Teck Resources from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG raised Teck Resources from a “sell” rating to a “hold” rating and increased their price target for the company from $11.50 to $20.00 in a research report on Monday, October 3rd.
Teck Resources (NYSE:TCK) traded up 3.672% during mid-day trading on Friday, hitting $18.775. The stock had a trading volume of 8,606,344 shares. Teck Resources has a 12 month low of $2.56 and a 12 month high of $19.08. The company’s market cap is $10.82 billion. The firm’s 50-day moving average is $17.55 and its 200 day moving average is $13.28.
Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Equities analysts anticipate that Teck Resources will post $0.63 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in TCK. Dodge & Cox increased its position in Teck Resources by 0.9% in the first quarter. Dodge & Cox now owns 58,085,503 shares of the company’s stock valued at $442,031,000 after buying an additional 501,242 shares in the last quarter. Capital Research Global Investors increased its position in Teck Resources by 822.8% in the second quarter. Capital Research Global Investors now owns 28,054,000 shares of the company’s stock valued at $369,363,000 after buying an additional 25,014,000 shares in the last quarter. Impala Asset Management LLC increased its position in Teck Resources by 8.8% in the second quarter. Impala Asset Management LLC now owns 9,350,097 shares of the company’s stock valued at $123,141,000 after buying an additional 758,846 shares in the last quarter. Vanguard Group Inc. increased its position in Teck Resources by 11.7% in the second quarter. Vanguard Group Inc. now owns 9,181,132 shares of the company’s stock valued at $120,916,000 after buying an additional 962,100 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in Teck Resources during the second quarter valued at approximately $84,610,000. Institutional investors and hedge funds own 47.23% of the company’s stock.
About Teck Resources
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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