Teck Resources (NYSE:TECK) Rating Increased to Hold at ValuEngine

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Several other equities research analysts have also commented on the stock. Macquarie initiated coverage on shares of Teck Resources in a research report on Wednesday, July 10th. They set a “neutral” rating on the stock. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. TD Securities lowered shares of Teck Resources to a “buy” rating in a research report on Monday, July 22nd. B. Riley reiterated a “buy” rating on shares of Teck Resources in a research report on Thursday, August 22nd. Finally, Clarkson Capital reiterated a “neutral” rating on shares of Teck Resources in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.33.

Shares of NYSE TECK traded up $0.13 during trading on Wednesday, hitting $15.63. 2,430,900 shares of the company were exchanged, compared to its average volume of 2,716,772. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 4.98 and a beta of 1.42. Teck Resources has a 1 year low of $14.89 and a 1 year high of $25.75. The firm’s fifty day moving average price is $17.01 and its 200 day moving average price is $20.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.47 and a quick ratio of 1.58.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 25th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $2.35 billion for 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 firm posted $1.12 earnings per share. On average, research analysts forecast that Teck Resources will post 2.66 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Foundation Resource Management Inc. raised its stake in Teck Resources by 6.4% in the 3rd quarter. Foundation Resource Management Inc. now owns 1,242,299 shares of the basic materials company’s stock valued at $20,163,000 after purchasing an additional 75,175 shares during the last quarter. Maverick Capital Ltd. raised its stake in Teck Resources by 5.1% in the 2nd quarter. Maverick Capital Ltd. now owns 257,990 shares of the basic materials company’s stock valued at $5,949,000 after purchasing an additional 12,550 shares during the last quarter. Verition Fund Management LLC raised its stake in Teck Resources by 5.7% in the 2nd quarter. Verition Fund Management LLC now owns 26,419 shares of the basic materials company’s stock valued at $609,000 after purchasing an additional 1,419 shares during the last quarter. Eaton Vance Management raised its stake in Teck Resources by 42.6% in the 2nd quarter. Eaton Vance Management now owns 71,923 shares of the basic materials company’s stock valued at $1,659,000 after purchasing an additional 21,500 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Teck Resources by 105.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 742,784 shares of the basic materials company’s stock valued at $17,129,000 after purchasing an additional 381,908 shares during the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.

About Teck Resources

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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