Brokerages Set Teck Resources Ltd (NYSE:TECK) Target Price at $53.33

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $53.3333.

Several research analysts recently weighed in on the company. TD Securities cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, January 26th. JPMorgan Chase & Co. increased their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th.

Hedge Funds Weigh In On Teck Resources

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after acquiring an additional 4,474,637 shares during the last quarter. Norges Bank acquired a new stake in Teck Resources in the 2nd quarter worth approximately $437,657,000. Northwest & Ethical Investments L.P. boosted its position in Teck Resources by 16.1% during the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after purchasing an additional 21,900 shares during the period. Alps Advisors Inc. grew its holdings in Teck Resources by 37.3% during the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after purchasing an additional 45,194 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after purchasing an additional 80,300 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $58.97 on Monday. Teck Resources has a 12 month low of $28.32 and a 12 month high of $60.75. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.55 and a beta of 0.79. The stock’s 50 day moving average price is $50.57 and its 200 day moving average price is $43.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08.

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.