Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Teck Resources Limited is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. It is a world leader in the production of copper, metallurgical coal and zinc, a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets. Headquartered in Vancouver, Canada, the company has expertise across the full range of activities related to mining, including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling and research. The Company is actively exploring in countries throughout the Americas, Asia Pacific, Europe and Africa. Teck Resources Limited, formerly Teck Cominco Limited, is headquartered in Vancouver, Canada. “
Several other equities analysts have also recently weighed in on the company. Macquarie cut Teck Resources from an “outperform” rating to a “neutral” rating in a report on Tuesday. They noted that the move was a valuation call. Bank of America cut Teck Resources to a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. ValuEngine upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Clarkson Capital cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, January 15th. Finally, Scotiabank upgraded Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and a consensus target price of $30.94.
Teck Resources (NYSE TECK) traded down $0.75 during trading on Tuesday, hitting $29.00. The stock had a trading volume of 1,701,526 shares, compared to its average volume of 4,563,468. The firm has a market cap of $16,972.37, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.15 and a beta of 1.40. Teck Resources has a 52 week low of $14.56 and a 52 week high of $30.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.81 and a quick ratio of 1.19.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.06). The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.28 billion. Teck Resources had a return on equity of 13.69% and a net margin of 20.83%. Teck Resources’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. equities research analysts expect that Teck Resources will post 3.57 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECK. Letko Brosseau & Associates Inc. increased its position in shares of Teck Resources by 1.4% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 13,669,450 shares of the basic materials company’s stock worth $358,606,000 after purchasing an additional 189,403 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Teck Resources by 7.4% during the 3rd quarter. TD Asset Management Inc. now owns 9,073,233 shares of the basic materials company’s stock worth $190,584,000 after acquiring an additional 627,705 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Teck Resources by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 8,652,241 shares of the basic materials company’s stock worth $181,681,000 after acquiring an additional 334,680 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Teck Resources by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,264,753 shares of the basic materials company’s stock worth $174,304,000 after acquiring an additional 112,617 shares during the last quarter. Finally, GMT Capital Corp increased its holdings in shares of Teck Resources by 16.0% during the 3rd quarter. GMT Capital Corp now owns 6,404,900 shares of the basic materials company’s stock worth $135,079,000 after acquiring an additional 882,100 shares during the last quarter. Hedge funds and other institutional investors own 53.08% of the company’s stock.
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Teck Resources Company Profile
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.
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