Teck Resources (NYSE:TECK) Downgraded to Hold Rating by TD Securities

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports.

A number of other research analysts also recently weighed in on TECK. Benchmark restated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Natl Bk Canada downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Raymond James Financial lowered Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, Citigroup reiterated a “neutral” rating on shares of Teck Resources in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.33.

Teck Resources Stock Performance

NYSE:TECK traded down $0.70 during mid-day trading on Thursday, reaching $52.30. The company’s stock had a trading volume of 1,794,836 shares, compared to its average volume of 4,009,037. Teck Resources has a 12-month low of $28.32 and a 12-month high of $54.00. The firm’s fifty day moving average price is $45.69 and its two-hundred day moving average price is $40.92. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $25.15 billion, a P/E ratio of 29.36, a PEG ratio of 0.54 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities analysts forecast that Teck Resources will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Union Bancaire Privee UBP SA boosted its holdings in shares of Teck Resources by 4.3% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 264 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in shares of Teck Resources by 1.6% in the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after buying an additional 270 shares in the last quarter. Stephens Inc. AR boosted its stake in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock valued at $290,000 after buying an additional 329 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares during the last quarter. Finally, CWM LLC grew its holdings in Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.