StockNews.com Upgrades Teck Resources (NYSE:TECK) to “Hold”

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

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. Scotiabank increased their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Price Performance

Teck Resources stock opened at $47.35 on Thursday. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. Teck Resources has a 52-week low of $34.38 and a 52-week high of $55.13. The stock’s 50 day moving average price is $48.73 and its two-hundred day moving average price is $48.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, equities analysts predict that Teck Resources will post 1.93 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently bought and sold shares of TECK. Hexagon Capital Partners LLC raised its stake in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the period. Headlands Technologies LLC bought a new stake in shares of Teck Resources during the 2nd quarter worth $38,000. Eastern Bank bought a new stake in shares of Teck Resources during the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC raised its stake in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.