Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, February 20th, MarketBeat reports. The analysts noted that the move was a valuation call.
A number of other research firms also recently weighed in on TECK. BidaskClub downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. Zacks Investment Research raised Teck Resources from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Friday, February 9th. ValuEngine raised Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. CIBC initiated coverage on Teck Resources in a report on Friday, November 17th. They set a “sector outperform” rating for the company. Finally, Bank of America set a $36.00 target price on Teck Resources and gave the stock a “buy” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.06.
Teck Resources (NYSE TECK) traded up $0.41 during mid-day trading on Tuesday, reaching $27.41. 2,071,506 shares of the company’s stock were exchanged, compared to its average volume of 3,850,000. Teck Resources has a 1 year low of $14.56 and a 1 year high of $30.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.81. The company has a market capitalization of $15,720.00, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.72 and a beta of 1.37.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06). Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business posted $1.61 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. research analysts expect that Teck Resources will post 3.52 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. raised its stake in Teck Resources by 175.3% in the third quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock valued at $3,239,000 after purchasing an additional 97,242 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Teck Resources by 74.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 153,322 shares of the basic materials company’s stock worth $3,234,000 after acquiring an additional 65,519 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Teck Resources by 201.4% during the third quarter. Hillsdale Investment Management Inc. now owns 508,794 shares of the basic materials company’s stock worth $10,720,000 after acquiring an additional 340,000 shares in the last quarter. Schroder Investment Management Group raised its stake in Teck Resources by 48.3% during the third quarter. Schroder Investment Management Group now owns 2,019,768 shares of the basic materials company’s stock worth $53,686,000 after acquiring an additional 657,500 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC raised its stake in Teck Resources by 34.5% during the third quarter. Global X MANAGEMENT CO LLC now owns 100,793 shares of the basic materials company’s stock worth $2,117,000 after acquiring an additional 25,850 shares in the last quarter. 54.28% of the stock is owned by institutional investors and hedge funds.
WARNING: This report was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2018/03/15/teck-resources-teck-rating-lowered-to-neutral-at-macquarie.html.
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.
Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.