Teck Resources Ltd. (TCK) Upgraded to “Buy” at Dundee Securities
Teck Resources Ltd. (NYSE:TCK) was upgraded by analysts at Dundee Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.
Other research analysts have also recently issued research reports about the company. TD Securities reiterated a “buy” rating and set a $22.00 price objective on shares of Teck Resources in a research report on Tuesday, July 26th. Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. Zacks Investment Research upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Saturday, July 9th. Morgan Stanley upgraded Teck Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $7.00 to $18.00 in a research report on Thursday, September 15th. Finally, Canaccord Genuity upgraded Teck Resources from a “sell” rating to a “hold” rating and raised their price target for the stock from $8.00 to $16.50 in a research report on Tuesday, July 26th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Teck Resources currently has a consensus rating of “Hold” and an average target price of $15.88.
Shares of Teck Resources (NYSE:TCK) traded up 3.0133% on Friday, reaching $18.6557. 5,128,001 shares of the company traded hands. The company’s market capitalization is $10.75 billion. Teck Resources has a one year low of $2.56 and a one year high of $19.08. The firm’s 50 day moving average is $17.54 and its 200 day moving average is $13.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/teck-resources-ltd-tck-upgraded-to-buy-at-dundee-securities.html
Teck Resources (NYSE:TCK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. Analysts expect that Teck Resources will post $0.63 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new stake in Teck Resources during the first quarter valued at approximately $527,000. Investec Asset Management LTD purchased a new stake in Teck Resources during the first quarter valued at approximately $4,590,000. Canada Pension Plan Investment Board increased its stake in Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock valued at $1,170,000 after buying an additional 100,700 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Teck Resources by 3.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,432,058 shares of the company’s stock valued at $10,906,000 after buying an additional 46,973 shares in the last quarter. Finally, Dodge & Cox increased its stake in Teck Resources by 0.9% in the first quarter. Dodge & Cox now owns 58,085,503 shares of the company’s stock valued at $442,031,000 after buying an additional 501,242 shares in the last quarter. Hedge funds and other institutional investors own 47.23% of the company’s stock.
About Teck Resources
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.
Receive News & Ratings for Teck Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.