Teck Resources Ltd (TECK) Now Covered by CIBC

Research analysts at CIBC started coverage on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a “sector outperform” rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. Berenberg Bank reaffirmed a “buy” rating and set a $27.50 price target on shares of Teck Resources in a research report on Tuesday, October 31st. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. Finally, ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.14.

Shares of Teck Resources (TECK) traded up $0.01 during trading on Friday, hitting $21.22. The stock had a trading volume of 4,427,100 shares, compared to its average volume of 5,114,576. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $12,720.00, a P/E ratio of 5.76, a PEG ratio of 0.81 and a beta of 1.27. Teck Resources has a 12 month low of $14.56 and a 12 month high of $33.76.

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Several large investors have recently made changes to their positions in the business. Capital Analysts LLC acquired a new position in shares of Teck Resources during the second quarter valued at approximately $100,000. Financial Architects Inc acquired a new position in shares of Teck Resources during the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. acquired a new position in shares of Teck Resources during the second quarter valued at approximately $124,000. Tower Research Capital LLC TRC acquired a new position in shares of Teck Resources during the second quarter valued at approximately $164,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Teck Resources during the second quarter valued at approximately $188,000. Institutional investors own 45.80% of the company’s stock.

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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