Teck Resources Ltd. (NYSE:TCK) – Analysts at Raymond James Financial increased their FY2016 earnings per share (EPS) estimates for shares of Teck Resources in a research note issued to investors on Thursday. Raymond James Financial analyst A. Terentiew now expects that the brokerage will earn $1.14 per share for the year, up from their previous forecast of $1.00. Raymond James Financial has a “Market Perform” rating and a $21.00 price objective on the stock. Raymond James Financial also issued estimates for Teck Resources’ Q4 2016 earnings at $0.88 EPS, Q1 2017 earnings at $0.62 EPS, Q2 2017 earnings at $0.38 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.41 EPS and FY2017 earnings at $1.87 EPS.
Other equities analysts have also issued research reports about the stock. Dundee Securities upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Friday. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. RBC Capital Markets lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $16.00 to $23.00 in a research report on Friday, August 12th. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Finally, FBR & Co increased their price target on shares of Teck Resources from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Wednesday, July 20th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.88.
Teck Resources (NYSE:TCK) opened at 18.77 on Friday. The stock has a 50 day moving average of $17.61 and a 200 day moving average of $13.36. The firm’s market capitalization is $10.82 billion. Teck Resources has a 12 month low of $2.56 and a 12 month high of $19.08.
Teck Resources (NYSE:TCK) last issued its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS.
A number of large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in shares of Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock worth $1,170,000 after buying an additional 100,700 shares in the last quarter. AMP Capital Investors Ltd increased its stake in shares of Teck Resources by 3.0% in the first quarter. AMP Capital Investors Ltd now owns 278,011 shares of the company’s stock worth $2,180,000 after buying an additional 8,100 shares in the last quarter. One Capital Management LLC increased its stake in shares of Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock worth $1,469,000 after buying an additional 26,451 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Teck Resources by 27.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,123 shares of the company’s stock worth $476,000 after buying an additional 7,887 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Teck Resources by 4.1% in the second quarter. Swiss National Bank now owns 3,207,479 shares of the company’s stock worth $42,024,000 after buying an additional 126,600 shares in the last quarter. 47.23% of the stock is currently owned by institutional investors and hedge funds.
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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