Teck Resources (NYSE:TECK) Downgraded by ValuEngine

ValuEngine cut shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other research firms have also recently weighed in on TECK. MKM Partners reissued a buy rating and issued a $28.00 price target (up from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. Zacks Investment Research cut shares of Teck Resources from a buy rating to a hold rating in a report on Saturday, July 13th. B. Riley reissued a buy rating on shares of Teck Resources in a report on Friday, July 12th. Macquarie began coverage on shares of Teck Resources in a report on Wednesday, July 10th. They issued a neutral rating on the stock. Finally, TD Securities cut shares of Teck Resources to a buy rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Teck Resources currently has a consensus rating of Buy and a consensus price target of $29.33.

Shares of TECK stock opened at $16.23 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.58 and a current ratio of 2.47. The firm’s 50-day moving average is $19.67 and its 200-day moving average is $21.76. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 5.17 and a beta of 1.38. Teck Resources has a 52-week low of $16.18 and a 52-week high of $25.82.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same period in the previous year, the company posted $1.12 earnings per share. Sell-side analysts predict that Teck Resources will post 2.78 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Teck Resources during the 2nd quarter worth approximately $32,000. Kempen Capital Management N.V. acquired a new position in shares of Teck Resources during the 2nd quarter worth approximately $53,000. CWM LLC acquired a new position in shares of Teck Resources during the 2nd quarter worth approximately $66,000. Glen Harbor Capital Management LLC grew its position in shares of Teck Resources by 18.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 792 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in shares of Teck Resources by 19.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,988 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 988 shares in the last quarter. Hedge funds and other institutional investors own 53.53% of the company’s stock.

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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