Teck Resources (TECK) Earns “Buy” Rating from Canaccord Genuity

Teck Resources (NYSE:TECK) (TSE:TECK)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity in a report issued on Tuesday.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley cut their price target on shares of Teck Resources from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 1st. Deutsche Bank set a $34.00 price target on shares of Teck Resources and gave the stock a “buy” rating in a report on Saturday, September 22nd. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. ValuEngine lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Goldman Sachs Group reissued a “hold” rating on shares of Teck Resources in a report on Sunday, October 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.94.

Shares of NYSE:TECK opened at $18.68 on Tuesday. The firm has a market capitalization of $10.72 billion, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. Teck Resources has a 52 week low of $18.17 and a 52 week high of $30.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.38.



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

Several institutional investors and hedge funds have recently made changes to their positions in TECK. UBS Group AG boosted its stake in shares of Teck Resources by 2.9% during the 1st quarter. UBS Group AG now owns 114,558 shares of the basic materials company’s stock valued at $2,950,000 after purchasing an additional 3,218 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Teck Resources during the 1st quarter valued at about $492,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of 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 valued at $266,000 after purchasing an additional 2,088 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Teck Resources by 44.1% during the 1st quarter. Allianz Asset Management GmbH now owns 2,101,783 shares of the basic materials company’s stock valued at $54,090,000 after purchasing an additional 643,226 shares in the last quarter. Finally, KAMES CAPITAL plc purchased a new position in Teck Resources during the 2nd quarter valued at about $1,227,000. 54.51% of the stock is currently owned by hedge funds and other institutional investors.

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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