Teck Resources Rating Lowered to Sell at Goldman Sachs (TCK)
Teck Resources (NYSE:TCK) was downgraded by equities researchers at Goldman Sachs from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
Teck Resources (NYSE:TCK) opened at 23.63 on Tuesday. Teck Resources has a 52 week low of $19.99 and a 52 week high of $30.02. The stock has a 50-day moving average of $23.65 and a 200-day moving average of $22.81. The company has a market cap of $13.616 billion and a P/E ratio of 22.74.
Teck Resources (NYSE:TCK) last announced its earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.13. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts predict that Teck Resources will post $0.86 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TCK. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Teck Resources in a research note on Friday, July 25th. They now have a C$33.00 price target on the stock, up previously from C$31.00. Separately, analysts at National Bank Financial downgraded shares of Teck Resources to an “underperform” rating in a research note on Tuesday, July 22nd. Finally, analysts at Bank of America downgraded shares of Teck Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, July 11th. They now have a $21.00 price target on the stock, down previously from $22.00. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.42.
Teck Resources Limited (NYSE:TCK) is engaged in exploring for, developing and producing natural resources.
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