Teck Resources Limited (NYSE:TECK) Receives $67.43 Average Target Price from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $65.29.

A number of equities research analysts have recently issued reports on TECK shares. BMO Capital Markets started coverage on shares of Teck Resources in a report on Monday, July 15th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, CIBC boosted their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Friday, July 12th.

Institutional Trading of Teck Resources

A number of hedge funds and other institutional investors have recently modified their holdings of TECK. Vanguard Group Inc. boosted its stake in Teck Resources by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company’s stock worth $694,542,000 after buying an additional 457,592 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Teck Resources by 8.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 865 shares during the period. Ervin Investment Management LLC acquired a new stake in Teck Resources in the 1st quarter valued at approximately $298,000. 180 Wealth Advisors LLC purchased a new stake in Teck Resources in the first quarter valued at approximately $223,000. Finally, Hexagon Capital Partners LLC lifted its stake in Teck Resources by 143.0% during the first 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 in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

NYSE:TECK opened at $47.35 on Tuesday. The stock has a 50 day moving average of $48.73 and a two-hundred day moving average of $48.73. Teck Resources has a 12 month low of $34.38 and a 12 month high of $55.13. The firm has a market cap of $24.19 billion, a P/E ratio of 20.95 and a beta of 1.02. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. The firm had revenue of $3.87 billion during 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. On average, analysts expect that Teck Resources will post 1.93 earnings per share for the current fiscal year.

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.