Teck Resources Ltd. (TCK) Stock Rating Upgraded by National Bank Financial
Teck Resources Ltd. (NYSE:TCK) was upgraded by investment analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Tuesday.
TCK has been the subject of a number of other reports. Raymond James Financial Inc. upgraded Teck Resources from an “underperform” rating to a “market perform” rating in a report on Thursday, August 4th. Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, July 18th. RBC Capital Markets cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. Credit Suisse Group AG raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a research report on Monday. Finally, Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.55.
Teck Resources (NYSE:TCK) traded up 4.42% on Tuesday, hitting $20.31. 4,390,489 shares of the stock were exchanged. The company has a 50-day moving average of $17.71 and a 200 day moving average of $13.53. The firm’s market cap is $11.71 billion. Teck Resources has a 12 month low of $2.56 and a 12 month high of $20.34.
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Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Equities research analysts expect that Teck Resources will post $0.63 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. 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. Capital Research Global Investors increased its position in shares of Teck Resources by 822.8% in the second quarter. Capital Research Global Investors now owns 28,054,000 shares of the company’s stock valued at $369,363,000 after buying an additional 25,014,000 shares during the period. Impala Asset Management LLC increased its position in shares of Teck Resources by 8.8% in the second quarter. Impala Asset Management LLC now owns 9,350,097 shares of the company’s stock valued at $123,141,000 after buying an additional 758,846 shares during the period. Vanguard Group Inc. increased its position in shares of Teck Resources by 11.7% in the second quarter. Vanguard Group Inc. now owns 9,181,132 shares of the company’s stock valued at $120,916,000 after buying an additional 962,100 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Teck Resources during the second quarter valued at approximately $84,610,000. 47.22% of the stock is owned by institutional investors and hedge funds.
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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