Teck Resources (NYSE:TECK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Several other research firms have also weighed in on TECK. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of “Hold” and an average price target of $63.00.

Teck Resources Stock Performance

NYSE TECK opened at $54.54 on Friday. Teck Resources has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a market capitalization of $26.33 billion, a P/E ratio of 19.98, a PEG ratio of 1.63 and a beta of 0.92. The business has a 50 day moving average price of $61.96 and a 200 day moving average price of $57.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources’s payout ratio is 13.19%.

Institutional Trading of Teck Resources

A number of large investors have recently made changes to their positions in the stock. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in Teck Resources by 2.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 191,700 shares of the basic materials company’s stock valued at $11,413,000 after purchasing an additional 5,220 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Teck Resources by 23.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 17,299 shares of the basic materials company’s stock valued at $1,030,000 after purchasing an additional 3,302 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Teck Resources by 86.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 736 shares during the last quarter. Brandywine Financial Group acquired a new stake in shares of Teck Resources during the 1st quarter worth about $5,251,000. Finally, Rathbones Group PLC grew its holdings in shares of Teck Resources by 80.8% during the first quarter. Rathbones Group PLC now owns 8,648 shares of the basic materials company’s stock worth $447,000 after buying an additional 3,865 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.