Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Monday.
A number of other analysts have also recently issued reports on TECK. MKM Partners set a $35.00 target price on Teck Resources and gave the stock a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research cut Teck Resources from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Finally, Morgan Stanley boosted their target price on Teck Resources from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Teck Resources has an average rating of “Hold” and an average target price of $30.94.
Shares of NYSE:TECK opened at $22.63 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.38 and a quick ratio of 1.51. Teck Resources has a 1 year low of $20.06 and a 1 year high of $30.80. The stock has a market cap of $12.91 billion, a PE ratio of 6.69, a PEG ratio of 0.61 and a beta of 1.42.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 26th. The basic materials company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.28. Teck Resources had a return on equity of 13.56% and a net margin of 22.12%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. sell-side analysts forecast that Teck Resources will post 3.55 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECK. Iridian Asset Management LLC CT purchased a new position in Teck Resources in the 1st quarter worth approximately $185,992,000. Janus Henderson Group PLC boosted its holdings in Teck Resources by 452.2% in the 2nd quarter. Janus Henderson Group PLC now owns 7,561,492 shares of the basic materials company’s stock worth $192,508,000 after acquiring an additional 6,192,051 shares during the period. Covalis Capital LLP boosted its holdings in Teck Resources by 504.7% in the 2nd quarter. Covalis Capital LLP now owns 1,679,203 shares of the basic materials company’s stock worth $42,736,000 after acquiring an additional 1,401,503 shares during the period. Assenagon Asset Management S.A. purchased a new position in Teck Resources in the 2nd quarter worth approximately $35,243,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Teck Resources in the 1st quarter worth approximately $35,565,000. Hedge funds and other institutional investors own 54.78% of the company’s stock.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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