Several other research analysts have also recently weighed in on TCK. TD Securities restated a buy rating and issued a $20.00 price target (up previously from $17.00) on shares of Teck Resources in a research note on Friday, July 1st. Zacks Investment Research cut Teck Resources from a strong-buy rating to a hold rating in a research note on Friday, July 1st. Deutsche Bank AG reaffirmed a sell rating on shares of Teck Resources in a report on Thursday, July 7th. Clarkson Capital raised Teck Resources from a neutral rating to a buy rating in a report on Monday, July 18th. Finally, RBC Capital Markets reaffirmed an outperform rating and issued a $16.00 price objective on shares of Teck Resources in a report on Tuesday, July 19th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Teck Resources currently has a consensus rating of Hold and a consensus target price of $16.55.
Shares of Teck Resources (NYSE:TCK) traded up 3.80% during mid-day trading on Monday, reaching $20.19. The company had a trading volume of 3,750,413 shares. The stock’s market capitalization is $11.64 billion. Teck Resources has a one year low of $2.56 and a one year high of $20.32. The firm has a 50 day moving average of $17.71 and a 200-day moving average of $13.53.
Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The firm earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue was down 13.0% on a year-over-year basis. Analysts forecast that Teck Resources will post $0.63 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of TCK. Capital Research Global Investors increased its stake in shares of 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 during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Teck Resources during the second quarter valued at $84,610,000. Slate Path Capital LP acquired a new stake in shares of Teck Resources during the second quarter valued at $80,535,000. Van ECK Associates Corp increased its stake in shares of Teck Resources by 981.4% in the second quarter. Van ECK Associates Corp now owns 4,716,588 shares of the company’s stock valued at $62,117,000 after buying an additional 4,280,425 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Teck Resources during the second quarter valued at $33,966,000. Institutional investors and hedge funds 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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