ValuEngine Downgrades Teck Resources Ltd (TECK) to Buy

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Several other equities research analysts have also recently issued reports on the company. BidaskClub upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Bank of America Corporation lifted their price objective on Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. BMO Capital Markets lifted their price objective on Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $26.00 price objective (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.18.

Shares of Teck Resources (NYSE:TECK) opened at 22.29 on Wednesday. The stock has a market capitalization of $12.88 billion, a P/E ratio of 7.67 and a beta of 1.20. The company has a 50 day moving average price of $22.50 and a 200-day moving average price of $20.66. Teck Resources has a 52-week low of $14.56 and a 52-week high of $26.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Teck Resources’s revenue was up 62.0% on a year-over-year basis. On average, analysts predict that Teck Resources will post $3.56 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “ValuEngine Downgrades Teck Resources Ltd (TECK) to Buy” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://ledgergazette.com/2017/10/20/valuengine-downgrades-teck-resources-ltd-teck-to-buy.html.

Hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $100,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $108,000. Financial Architects Inc purchased a new stake in shares of

Several other equities research analysts have also recently issued reports on the company. BidaskClub upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Bank of America Corporation lifted their price objective on Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. BMO Capital Markets lifted their price objective on Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $26.00 price objective (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.18.

Shares of Teck Resources (NYSE:TECK) opened at 22.29 on Wednesday. The stock has a market capitalization of $12.88 billion, a P/E ratio of 7.67 and a beta of 1.20. The company has a 50 day moving average price of $22.50 and a 200-day moving average price of $20.66. Teck Resources has a 52-week low of $14.56 and a 52-week high of $26.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Teck Resources’s revenue was up 62.0% on a year-over-year basis. On average, analysts predict that Teck Resources will post $3.56 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “ValuEngine Downgrades Teck Resources Ltd (TECK) to Buy” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://ledgergazette.com/2017/10/20/valuengine-downgrades-teck-resources-ltd-teck-to-buy.html.

Hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $100,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $108,000. Financial Architects Inc purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $123,000. PNC Financial Services Group Inc. purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $124,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Teck Resources during the 2nd quarter valued at approximately $164,000. 46.78% of the stock is currently owned by hedge funds and other institutional investors.

About Teck Resources

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.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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