Teck Resources (NYSE:TECK) Upgraded to “Hold (C)” at Weiss Ratings

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by analysts at Weiss Ratings from a “sell (d+)” rating to a “hold (c)” rating in a research report issued on Friday,Weiss Ratings reports.

Other research analysts have also issued research reports about the stock. Veritas lowered shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Cibc World Mkts downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. B. Riley downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada decreased their target price on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.00.

Teck Resources Stock Up 0.1%

Teck Resources stock opened at $42.52 on Friday. The firm has a market cap of $20.43 billion, a PE ratio of 23.89, a P/E/G ratio of 0.62 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The firm’s 50 day moving average price is $39.19 and its two-hundred day moving average price is $37.19. Teck Resources has a twelve month low of $28.32 and a twelve month high of $51.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.16. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.13%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. On average, research analysts predict that Teck Resources will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in Teck Resources by 69.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after buying an additional 350 shares during the last quarter. Costello Asset Management INC acquired a new position in Teck Resources in the 1st quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new position in Teck Resources in the 1st quarter valued at $36,000. Golden State Wealth Management LLC grew its stake in Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after buying an additional 1,134 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Teck Resources in the 2nd quarter valued at $49,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.