Bank of America Corp. Downgrades Teck Resources Limited to Neutral (TCK)
Teck Resources Limited (NYSE:TCK) was downgraded by investment analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, AmericanBankingNews.com reports.
Shares of Teck Resources Limited (NYSE:TCK) opened at 28.96 on Monday. Teck Resources Limited has a 1-year low of $19.98 and a 1-year high of $38.57. The stock’s 50-day moving average is $25.9 and its 200-day moving average is $26.03. The company has a market cap of $16.687 billion and a price-to-earnings ratio of 24.63.
Teck Resources Limited (NYSE:TCK) last released its earnings data on Thursday, October 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, analysts predict that Teck Resources Limited will post $1.80 earnings per share for the current fiscal year.
TCK has been the subject of a number of other recent research reports. Analysts at TD Securities raised their price target on shares of Teck Resources Limited from $30.00 to $31.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Teck Resources Limited from $31.00 to $35.00 in a research note to investors on Friday. They now have a “sector outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Teck Resources Limited from $26.00 to $28.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Teck Resources Limited has a consensus rating of “Hold” and a consensus price target of $31.85.
Teck Resources Limited (NYSE:TCK), formerly Teck Cominco Limited, is engaged in mining and related activities, including exploration, development, processing, smelting and refining.
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