Teck Resources (NYSE:TECK) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a research report released on Wednesday morning.

Other research analysts have also issued research reports about the company. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on Teck Resources from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. Morgan Stanley increased their target price on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.43.

Teck Resources Stock Performance

Shares of TECK opened at $50.33 on Wednesday. Teck Resources has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $25.47 billion, a P/E ratio of 24.67 and a beta of 1.02. The business’s 50 day moving average price is $48.26 and its 200-day moving average price is $48.61.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Teck Resources will post 2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

A number of large investors have recently made changes to their positions in TECK. Hexagon Capital Partners LLC grew its position in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Headlands Technologies LLC bought a new stake in Teck Resources during the second quarter valued at approximately $38,000. Bruce G. Allen Investments LLC raised its holdings in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Blue Trust Inc. lifted its position in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is currently owned by institutional investors.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.