Teck Resources Ltd. (TCK) Stock Rating Upgraded by Royal Bank Of Canada
Teck Resources Ltd. (NYSE:TCK) was upgraded by equities researchers at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Monday. The brokerage currently has a $30.00 target price on the stock, up from their previous target price of $23.00. Royal Bank Of Canada’s price objective would indicate a potential upside of 45.28% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Raymond James Financial Inc. raised Teck Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Clarkson Capital raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, July 18th. RBC Capital Markets lowered Teck Resources from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $16.00 to $23.00 in a research note on Friday, August 12th. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Finally, FBR & Co increased their target price on Teck Resources from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Teck Resources has an average rating of “Hold” and a consensus target price of $16.55.
Shares of Teck Resources (NYSE:TCK) opened at 20.65 on Monday. The company’s market cap is $11.90 billion. The company has a 50 day moving average price of $17.81 and a 200 day moving average price of $13.63. Teck Resources has a 52 week low of $2.56 and a 52 week high of $20.82.
Teck Resources (NYSE:TCK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) 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 business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, equities analysts expect that Teck Resources will post $0.63 earnings per share for the current year.
A number of large investors have recently bought and sold shares of TCK. Advisor Group Inc. purchased a new stake in Teck Resources during the second quarter worth approximately $105,000. Fox Run Management L.L.C. purchased a new stake in Teck Resources during the third quarter worth approximately $191,000. Macquarie Group Ltd. purchased a new stake in Teck Resources during the second quarter worth approximately $150,000. Commonwealth Equity Services Inc boosted 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 worth $253,000 after buying an additional 900 shares during the last quarter. Finally, Sprott Inc. purchased a new stake in Teck Resources during the second quarter worth approximately $395,000. 47.22% of the stock is owned by institutional investors.
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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