Royal Bank Of Canada upgraded shares of Teck Resources Ltd. (NYSE:TCK) from a sector perform rating to an outperform rating in a research report released on Monday. They currently have $30.00 price target on the stock, up from their previous price target of $23.00.
Several other equities analysts have also recently weighed in on TCK. Credit Suisse Group AG restated a hold rating on shares of Teck Resources in a report on Tuesday, June 28th. TD Securities restated a buy rating and set a $20.00 price target (up previously from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Zacks Investment Research cut Teck Resources from a strong-buy rating to a hold rating in a report on Friday, July 1st. Deutsche Bank AG restated a sell rating on shares of Teck Resources in a report on Thursday, July 7th. Finally, Clarkson Capital upgraded Teck Resources from a neutral rating to a buy rating in a report on Monday, July 18th. Six analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $16.55.
Shares of Teck Resources (NYSE:TCK) traded up 3.86% on Monday, hitting $20.20. The stock had a trading volume of 2,012,724 shares. The stock’s market capitalization is $11.64 billion. Teck Resources has a 52 week low of $2.56 and a 52 week high of $20.26. The firm has a 50-day moving average price of $17.71 and a 200-day moving average price of $13.53.
Teck Resources (NYSE:TCK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Equities analysts expect that Teck Resources will post $0.63 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. acquired a new position in shares of Teck Resources during the second quarter valued at $105,000. Macquarie Group Ltd. purchased a new stake in Teck Resources during the second quarter valued at $150,000. Fox Run Management L.L.C. purchased a new stake in Teck Resources during the third quarter valued at $191,000. Commonwealth Equity Services Inc increased its stake in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the last quarter. Finally, Oak Associates Ltd. OH increased its stake in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.
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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