Teck Resources Ltd. (TCK) PT Raised to $25.00
Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) had its target price hoisted by investment analysts at Deutsche Bank AG from $23.00 to $25.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential upside of 7.99% from the company’s current price.
TCK has been the topic of several other research reports. Dundee Securities upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Friday, October 14th. BMO Capital Markets reiterated a “hold” rating and set a $16.00 price objective on shares of Teck Resources in a report on Wednesday, August 31st. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, October 5th. CIBC reiterated an “outperform” rating on shares of Teck Resources in a report on Thursday, October 13th. Finally, Scotiabank reiterated a “sector perform” rating and set a $27.00 price objective on shares of Teck Resources in a report on Saturday, October 22nd. Five 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.43.
Shares of Teck Resources (NYSE:TCK) traded down 0.108% during trading on Wednesday, hitting $23.125. The stock had a trading volume of 3,729,218 shares. The company’s market capitalization is $13.33 billion. The firm has a 50-day moving average of $19.82 and a 200 day moving average of $15.14. Teck Resources has a 1-year low of $2.56 and a 1-year high of $23.16.
Teck Resources (NYSE:TCK) last released its earnings results on Thursday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $1.65 billion. Teck Resources had a negative net margin of 1.42% and a positive return on equity of 1.13%. Teck Resources’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. Equities research analysts predict that Teck Resources will post $1.09 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. bought a new stake in Teck Resources during the second quarter valued at $105,000. PNC Financial Services Group Inc. boosted its stake in Teck Resources by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 7,343 shares of the company’s stock valued at $134,000 after buying an additional 500 shares during the period. Macquarie Group Ltd. bought a new stake in Teck Resources during the second quarter valued at $150,000. Fox Run Management L.L.C. bought a new stake in Teck Resources during the third quarter valued at $191,000. Finally, 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 valued at $253,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 47.69% 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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