Teck Resources Ltd. (TCK) Coverage Initiated by Analysts at Bank of America Corp.
Several other research firms have also weighed in on TCK. Credit Suisse Group AG upgraded shares of Teck Resources from a neutral rating to an outperform rating in a research note on Monday. Raymond James Financial Inc. reiterated a market perform rating and issued a $21.00 price objective (up previously from $19.00) on shares of Teck Resources in a research note on Thursday, August 25th. Sanford C. Bernstein reiterated a sell rating and issued a $10.00 price objective on shares of Teck Resources in a research note on Friday, August 19th. Royal Bank Of Canada lowered shares of Teck Resources from an outperform rating to a sector perform rating and lifted their price objective for the company from $16.00 to $23.00 in a research note on Friday, August 12th. Finally, RBC Capital Markets reiterated an outperform rating and issued a $16.00 price objective on shares of Teck Resources in a research note on Tuesday, July 19th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $16.55.
Teck Resources (NYSE:TCK) traded up 3.80% during mid-day trading on Monday, reaching $20.19. 3,752,813 shares of the company’s stock traded hands. Teck Resources has a 12 month low of $2.56 and a 12 month high of $20.32. The stock’s market cap is $11.64 billion. The company has a 50 day moving average price of $17.71 and a 200-day moving average price of $13.53.
Teck Resources (NYSE:TCK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company earned $1.74 billion during 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%. Teck Resources’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. On average, analysts anticipate that Teck Resources will post $0.63 EPS for the current year.
Several large investors have recently made changes to their positions in TCK. Advisor Group Inc. bought a new stake in shares of Teck Resources during the second quarter valued at $105,000. Macquarie Group Ltd. acquired a new position in shares of Teck Resources during the second quarter valued at approximately $150,000. Fox Run Management L.L.C. acquired a new position in shares of Teck Resources during the third quarter valued at approximately $191,000. Commonwealth Equity Services Inc raised its position in shares of Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its position in shares of Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.
About Teck Resources
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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