Citigroup Inc. Initiates Coverage on Teck Resources Limited (TCK)
Analysts at Citigroup Inc. assumed coverage on shares of Teck Resources Limited (NYSE:TCK) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of Teck Resources Limited (NYSE:TCK) opened at 28.40 on Friday. Teck Resources Limited has a 52 week low of $19.98 and a 52 week high of $38.57. The stock’s 50-day moving average is $27.00 and its 200-day moving average is $25.86. The company has a market cap of $16.367 billion and a P/E ratio of 24.70.
Teck Resources Limited (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.34 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.34. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.09 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank initiated coverage on shares of Teck Resources Limited (NYSE:TCK) in a research note to investors on Monday, September 9th. They set an “outperform” rating and a C$29.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Teck Resources Limited (NYSE:TCK) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 27th. They now have a $26.90 price target on the stock. Finally, analysts at Dundee Securities raised their price target on shares of Teck Resources Limited (NYSE:TCK) from $27.00 to $30.00 in a research note to investors on Monday, August 26th. They now have a “buy” rating on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.68.
Teck Resources Limited (NYSE:TCK), formerly Teck Cominco Limited, is engaged in mining and related activities, including exploration, development, processing, smelting and refining.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.