Teck Resources Ltd (NYSE:TECK) Receives Average Rating of “Buy” from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has earned a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.40.

A number of analysts have commented on the company. Macquarie assumed coverage on Teck Resources in a research report on Wednesday, July 10th. They issued a “neutral” rating for the company. ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. MKM Partners restated a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of Teck Resources in a research report on Wednesday, April 24th. TD Securities cut Teck Resources to a “buy” rating in a research report on Monday, July 22nd. Finally, Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC boosted its stake in shares of Teck Resources by 4.2% in the second quarter. We Are One Seven LLC now owns 11,437 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 456 shares during the period. Shell Asset Management Co. boosted its stake in shares of Teck Resources by 1.1% in the first quarter. Shell Asset Management Co. now owns 45,078 shares of the basic materials company’s stock worth $1,043,000 after acquiring an additional 500 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Teck Resources by 6.3% in the second quarter. D.A. Davidson & CO. now owns 10,701 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 635 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of Teck Resources by 18.0% in the second quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 792 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in shares of Teck Resources by 2.2% in the second quarter. Confluence Investment Management LLC now owns 38,485 shares of the basic materials company’s stock worth $887,000 after acquiring an additional 815 shares during the period. 54.84% of the stock is owned by hedge funds and other institutional investors.

TECK traded down $0.07 during midday trading on Friday, reaching $16.55. The company had a trading volume of 2,652,600 shares, compared to its average volume of 3,169,553. The company has a quick ratio of 1.58, a current ratio of 2.47 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $20.55 and a two-hundred day moving average of $21.99. The company has a market cap of $9.25 billion, a P/E ratio of 5.27 and a beta of 1.38. Teck Resources has a 1 year low of $16.43 and a 1 year high of $25.82.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a return on equity of 8.49% and a net margin of 20.37%. During the same quarter in the previous year, the company earned $1.12 EPS. On average, equities research analysts predict that Teck Resources will post 2.86 EPS for the current year.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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