Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Research analysts at National Bank Financial decreased their FY2018 earnings per share estimates for Teck Resources in a note issued to investors on Sunday, November 4th. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $3.45 per share for the year, down from their previous estimate of $3.65. National Bank Financial also issued estimates for Teck Resources’ FY2019 earnings at $3.14 EPS.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Teck Resources had a net margin of 27.35% and a return on equity of 12.31%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.40 billion.
Several other research analysts also recently commented on TECK. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Morgan Stanley lowered their price objective on shares of Teck Resources from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, MKM Partners lowered their price objective on shares of Teck Resources to $30.00 and set a “buy” rating for the company in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Teck Resources currently has an average rating of “Buy” and an average target price of $31.43.
NYSE TECK opened at $21.06 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39. Teck Resources has a 1-year low of $18.17 and a 1-year high of $30.80. The company has a market capitalization of $12.04 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.59 and a beta of 1.55.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in shares of Teck Resources by 2,675.5% during the second quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,040 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Teck Resources during the second quarter worth $111,000. Regentatlantic Capital LLC acquired a new position in shares of Teck Resources during the second quarter worth $200,000. Daiwa SB Investments Ltd. increased its holdings in shares of Teck Resources by 207.2% during the second quarter. Daiwa SB Investments Ltd. now owns 9,860 shares of the basic materials company’s stock worth $251,000 after buying an additional 6,650 shares in the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new position in shares of Teck Resources during the second quarter worth $262,000. Institutional investors and hedge funds own 54.23% of the company’s stock.
Teck Resources Company Profile
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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