Teck Resources Ltd. (TCK) Given Consensus Rating of “Hold” by Analysts
Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) has been given an average recommendation of “Hold” by the twenty-seven brokerages that are currently covering the firm. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.88.
Several equities analysts recently weighed in on TCK shares. TD Securities restated a “buy” rating and issued a $22.00 price objective on shares of Teck Resources in a report on Tuesday, July 26th. Canaccord Genuity upgraded shares of Teck Resources from a “sell” rating to a “hold” rating and increased their price objective for the company from $8.00 to $16.50 in a report on Tuesday, July 26th. Deutsche Bank AG increased their price objective on shares of Teck Resources from $10.00 to $11.50 and gave the company a “sell” rating in a report on Friday, July 29th. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Finally, Goldman Sachs Group Inc. lowered shares of Teck Resources from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Monday, August 1st.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCK. AMP Capital Investors Ltd increased its position in Teck Resources by 3.0% in the first quarter. AMP Capital Investors Ltd now owns 278,011 shares of the company’s stock worth $2,180,000 after buying an additional 8,100 shares during the last quarter. One Capital Management LLC increased its position in Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock worth $1,469,000 after buying an additional 26,451 shares during the last quarter. Oak Associates Ltd. OH increased its position in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock worth $317,000 after buying an additional 400 shares during the last quarter. Foundation Resource Management Inc. increased its position 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. Finally, Acadian Asset Management LLC bought a new position in Teck Resources during the second quarter worth about $33,966,000. Institutional investors own 47.69% of the company’s stock.
Teck Resources (NYSE:TCK) traded down 2.23% during trading on Friday, hitting $22.80. 5,766,231 shares of the stock traded hands. Teck Resources has a one year low of $2.56 and a one year high of $24.00. The company’s 50 day moving average is $20.34 and its 200 day moving average is $15.48. The company’s market capitalization is $13.14 billion.
Teck Resources (NYSE:TCK) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Teck Resources had a negative net margin of 1.42% and a positive return on equity of 1.13%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Teck Resources’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Teck Resources will post $1.09 EPS for the current fiscal year.
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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