Teck Resources (TECK) Shares Gap Up to $24.00
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) shares gapped up before the market opened on Wednesday . The stock had previously closed at $23.50, but opened at $24.00. Teck Resources shares last traded at $24.73, with a volume of 4152035 shares changing hands.
Several research analysts have commented on the stock. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. MKM Partners reissued a “buy” rating and set a $30.00 price objective on shares of Teck Resources in a report on Wednesday, September 20th. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. BMO Capital Markets increased their price objective on shares of Teck Resources from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, September 25th. Finally, B. Riley reissued a “buy” rating on shares of Teck Resources in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.94.
The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. The stock has a market capitalization of $13,870.00, a price-to-earnings ratio of 6.56, a P/E/G ratio of 1.02 and a beta of 1.31.
Large investors have recently made changes to their positions in the stock. Capital Analysts LLC purchased a new stake in Teck Resources in the 2nd quarter worth about $100,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources in the 2nd quarter worth about $124,000. Tower Research Capital LLC TRC purchased a new stake in Teck Resources in the 2nd quarter worth about $164,000. Investment Centers of America Inc. purchased a new stake in Teck Resources in the 2nd quarter worth about $194,000. Finally, Private Advisor Group LLC purchased a new stake in Teck Resources in the 3rd quarter worth about $200,000. 54.25% of the stock is owned by hedge funds and other institutional investors.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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