Teck Resources’ (TECK) Buy Rating Reiterated at TD Securities

Teck Resources (NYSE:TECK) (TSE:TECK)‘s stock had its “buy” rating reaffirmed by investment analysts at TD Securities in a research note issued on Sunday.

A number of other brokerages also recently commented on TECK. Morgan Stanley dropped their price objective on shares of Teck Resources from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 1st. Deutsche Bank set a $34.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. ValuEngine downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Goldman Sachs Group reaffirmed a “hold” rating on shares of Teck Resources in a research report on Sunday, October 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.94.

Shares of TECK opened at $18.91 on Friday. Teck Resources has a fifty-two week low of $18.17 and a fifty-two week high of $30.80. The company has a market cap of $10.72 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.



Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.11). Teck Resources had a return on equity of 12.53% and a net margin of 27.35%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.40 billion. On average, research analysts forecast that Teck Resources will post 3.4 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Teck Resources by 25.3% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,342 shares of the basic materials company’s stock worth $266,000 after purchasing an additional 2,088 shares during the period. Nomura Holdings Inc. boosted its stake in Teck Resources by 28.1% during the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 3,091 shares during the period. UBS Group AG boosted its stake in Teck Resources by 2.9% during the 1st quarter. UBS Group AG now owns 114,558 shares of the basic materials company’s stock worth $2,950,000 after purchasing an additional 3,218 shares during the period. Advisors Asset Management Inc. boosted its stake in Teck Resources by 2,675.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 4,040 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Teck Resources by 2.4% during the 2nd quarter. SG Americas Securities LLC now owns 183,597 shares of the basic materials company’s stock worth $4,673,000 after purchasing an additional 4,306 shares during the period. Hedge funds and other institutional investors own 54.51% of the company’s stock.

Teck Resources Company Profile

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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