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.
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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