Teck Resources (TECK) Downgraded to “Hold” at ValuEngine

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other equities analysts have also commented on TECK. Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a research report on Monday, January 8th. Clarkson Capital lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, January 15th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, January 31st. Bank of America set a $36.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Macquarie lowered shares of Teck Resources from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Teck Resources has an average rating of “Buy” and an average target price of $31.05.

TECK stock opened at $24.79 on Thursday. The stock has a market cap of $14,555.46, a price-to-earnings ratio of 7.23, a PEG ratio of 0.65 and a beta of 1.50. Teck Resources has a one year low of $14.56 and a one year high of $30.80. The company has a quick ratio of 1.19, a current ratio of 1.81 and a debt-to-equity ratio of 0.32.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.04). The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. analysts predict that Teck Resources will post 3.77 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Scotia Capital Inc. increased its holdings in Teck Resources by 70.1% in the 4th quarter. Scotia Capital Inc. now owns 676,290 shares of the basic materials company’s stock worth $17,681,000 after buying an additional 278,711 shares during the period. Encompass Capital Advisors LLC acquired a new position in Teck Resources in the 4th quarter worth approximately $14,394,000. Jones Collombin Investment Counsel Inc increased its holdings in Teck Resources by 14.0% in the 4th quarter. Jones Collombin Investment Counsel Inc now owns 271,710 shares of the basic materials company’s stock worth $7,105,000 after buying an additional 33,460 shares during the period. Highstreet Asset Management Inc. increased its holdings in Teck Resources by 16.4% in the 4th quarter. Highstreet Asset Management Inc. now owns 334,881 shares of the basic materials company’s stock worth $8,757,000 after buying an additional 47,265 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Teck Resources by 23.0% in the 4th quarter. Schroder Investment Management Group now owns 2,484,242 shares of the basic materials company’s stock worth $81,658,000 after buying an additional 464,474 shares during the period. Institutional investors own 54.28% of the company’s stock.

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About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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