Teck Resources Ltd. (TCK) Given Outperform Rating at CIBC
Other analysts have also issued reports about the stock. Raymond James Financial Inc. upgraded shares of Teck Resources from an underperform rating to a market perform rating in a research report on Thursday, August 4th. FBR & Co restated a hold rating on shares of Teck Resources in a research report on Wednesday, June 15th. Clarkson Capital upgraded shares of Teck Resources from a neutral rating to a buy rating in a research report on Monday, July 18th. RBC Capital Markets lowered shares of Teck Resources from an outperform rating to a sector perform rating and raised their target price for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. Finally, Zacks Investment Research lowered shares of Teck Resources from a buy rating to a hold rating in a research report on Tuesday, July 12th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Teck Resources has a consensus rating of Hold and a consensus price target of $15.88.
Teck Resources (NYSE:TCK) traded up 2.65% during trading on Thursday, hitting $18.59. 5,367,953 shares of the company’s stock traded hands. Teck Resources has a 12-month low of $2.56 and a 12-month high of $19.08. The stock’s market cap is $10.72 billion. The firm’s 50-day moving average price is $17.54 and its 200 day moving average price is $13.28.
Teck Resources (NYSE:TCK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The company’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. Analysts anticipate that Teck Resources will post $0.63 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in TCK. Bank of New York Mellon Corp increased its stake in Teck Resources by 44.1% in the second quarter. Bank of New York Mellon Corp now owns 1,288,642 shares of the company’s stock worth $16,972,000 after buying an additional 394,476 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Teck Resources during the second quarter worth approximately $600,000. Montrusco Bolton Investments Inc. acquired a new stake in Teck Resources during the second quarter worth approximately $8,035,000. Acadian Asset Management LLC acquired a new stake in Teck Resources during the second quarter worth approximately $33,966,000. Finally, Foundation Resource Management Inc. increased its stake in Teck Resources by 0.5% in the second quarter. Foundation Resource Management Inc. now owns 1,742,457 shares of the company’s stock worth $22,948,000 after buying an additional 9,174 shares during the last quarter. Institutional investors and hedge funds own 47.23% of the company’s stock.
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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