Brokerages Set Teck Resources Ltd. (TCK) Price Target at $15.97
Teck Resources Ltd. (NYSE:TCK) has received a consensus recommendation of “Hold” from the twenty-nine brokerages that are presently covering the company. Six equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.08.
Several analysts have weighed in on TCK shares. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Teck Resources in a report on Tuesday, June 28th. TD Securities reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Zacks Investment Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 1st. Deutsche Bank AG reissued a “sell” rating on shares of Teck Resources in a report on Thursday, July 7th. Finally, Clarkson Capital raised Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, July 18th.
A number of large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. purchased a new stake in Teck Resources during the second quarter valued at about $105,000. Macquarie Group Ltd. purchased a new stake in Teck Resources during the second quarter valued at about $150,000. Fox Run Management L.L.C. purchased a new stake in Teck Resources during the third quarter valued at about $191,000. Commonwealth Equity Services Inc increased its stake in 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 period. Finally, Oak Associates Ltd. OH increased its stake in 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 period. 47.22% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources (NYSE:TCK) opened at 20.65 on Friday. Teck Resources has a 52 week low of $2.56 and a 52 week high of $20.82. The firm has a 50-day moving average price of $17.81 and a 200 day moving average price of $13.63. The firm’s market capitalization is $11.90 billion.
Teck Resources (NYSE:TCK) last released its quarterly earnings results 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. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue was down 13.0% compared to the same quarter last year. On average, equities research analysts forecast that Teck Resources will post $0.63 earnings per share for the current fiscal year.
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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