Teck Resources Ltd (TECK) Given “Outperform” Rating at Raymond James Financial, Inc.
Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “outperform” rating restated by equities researchers at Raymond James Financial, Inc. in a research report issued to clients and investors on Tuesday.
Several other research analysts have also recently issued reports on TECK. Credit Suisse Group reissued an “outperform” rating on shares of Teck Resources in a research note on Tuesday, April 18th. J P Morgan Chase & Co raised Teck Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 30th. Bank of America Corporation raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Friday, June 30th. Clarkson Capital reissued a “buy” rating on shares of Teck Resources in a research note on Friday, May 19th. Finally, Zacks Investment Research cut Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.03.
Shares of Teck Resources (NYSE:TECK) traded down 0.76% during trading on Tuesday, reaching $22.15. 1,356,210 shares of the company’s stock traded hands. Teck Resources has a 1-year low of $14.56 and a 1-year high of $33.76. The stock has a market capitalization of $12.80 billion, a PE ratio of 7.86 and a beta of 1.27. The company has a 50 day moving average price of $19.87 and a 200 day moving average price of $20.34.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. Teck Resources’s revenue was up 62.0% on a year-over-year basis. On average, equities analysts forecast that Teck Resources will post $3.18 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. purchased a new position in shares of Teck Resources during the second quarter valued at $623,000. Great West Life Assurance Co. Can bought a new position in shares of Teck Resources during the second quarter worth approximately $57,911,000. Exane Asset Management bought a new position in shares of Teck Resources during the second quarter worth approximately $877,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Teck Resources during the second quarter worth approximately $1,496,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Teck Resources during the second quarter worth approximately $35,663,000. 47.20% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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