Teck Resources Ltd. (TCK) Upgraded to “Hold” at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Teck Resources Ltd. (NYSE:TCK) from a sell rating to a hold rating in a research report sent to investors on Monday. Deutsche Bank AG currently has $20.00 price target on the stock, up from their prior price target of $11.50.
Other equities analysts have also recently issued reports about the company. TD Securities reaffirmed a buy rating and issued a $22.00 price target on shares of Teck Resources in a research note on Tuesday, July 26th. Zacks Investment Research raised Teck Resources from a hold rating to a buy rating and set a $15.00 price target on the stock in a research note on Saturday, July 9th. Clarkson Capital raised Teck Resources from a neutral rating to a buy rating in a research note on Monday, July 18th. Morgan Stanley raised Teck Resources from an underweight rating to an equal weight rating and lifted their price target for the stock from $7.00 to $18.00 in a research note on Thursday, September 15th. Finally, Credit Suisse Group AG reaffirmed a hold rating on shares of Teck Resources in a research note on Tuesday, June 28th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $15.50.
Teck Resources (NYSE:TCK) opened at 17.99 on Monday. The company’s market capitalization is $10.37 billion. Teck Resources has a one year low of $2.56 and a one year high of $19.08. The company has a 50 day moving average price of $17.13 and a 200-day moving average price of $12.83.
Teck Resources (NYSE:TCK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. Teck Resources’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. Analysts expect that Teck Resources will post $0.56 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. bought a new stake in Teck Resources during the second quarter valued at about $150,000. Cohen & Steers Inc. bought a new stake in Teck Resources during the second quarter valued at about $2,238,000. Hillsdale Investment Management Inc. bought a new stake in Teck Resources during the second quarter valued at about $5,971,000. Legal & General Group Plc raised its stake in Teck Resources by 3.9% in the second quarter. Legal & General Group Plc now owns 1,914,928 shares of the company’s stock valued at $25,030,000 after buying an additional 71,556 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Teck Resources during the second quarter valued at about $1,514,000. 47.23% of the stock is owned by institutional investors and hedge funds.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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