Q1 2017 EPS Estimates for Teck Resources Ltd. Lifted by Analyst (TCK)
Teck Resources Ltd. (NYSE:TCK) – Cormark raised their Q1 2017 earnings per share (EPS) estimates for Teck Resources in a research note issued to investors on Monday. Cormark analyst A. Meikle now anticipates that the brokerage will post earnings per share of $0.40 for the quarter, up from their prior forecast of $0.16. Cormark also issued estimates for Teck Resources’ Q2 2017 earnings at $0.26 EPS, Q3 2017 earnings at $0.54 EPS, Q4 2017 earnings at $0.57 EPS and FY2017 earnings at $1.76 EPS.
A number of other analysts have also recently weighed in on TCK. Sanford C. Bernstein reiterated a “sell” rating and set a $10.00 price target on shares of Teck Resources in a research note on Friday, August 19th. TD Securities reiterated a “buy” rating and set a $24.00 price target on shares of Teck Resources in a research note on Thursday, August 25th. Berenberg Bank initiated coverage on shares of Teck Resources in a research note on Friday, August 19th. They set a “sell” rating and a $10.00 price target for the company. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Saturday, July 9th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $16.00 price target on shares of Teck Resources in a research note on Wednesday, August 31st. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.81.
Teck Resources (NYSE:TCK) traded up 0.5263% during mid-day trading on Wednesday, hitting $17.9942. 4,250,680 shares of the stock were exchanged. The company has a 50-day moving average price of $16.53 and a 200-day moving average price of $12.14. Teck Resources has a one year low of $2.56 and a one year high of $18.84. The company’s market cap is $10.37 billion.
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Teck Resources (NYSE:TCK) last released its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The company’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share.
Institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. acquired a new position in Teck Resources during the second quarter valued at $105,000. Macquarie Group Ltd. acquired a new position in Teck Resources during the second quarter valued at $150,000. Commonwealth Equity Services Inc increased its position in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the period. Oak Associates Ltd. OH increased its position in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the period. Finally, Sprott Inc. acquired a new position in Teck Resources during the second quarter valued at $395,000. Hedge funds and other institutional investors own 47.23% of the company’s stock.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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