Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also commented on TECK. MKM Partners reaffirmed a “buy” rating and issued a $40.00 price target on shares of Teck Resources in a research note on Tuesday. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $23.00 price target (down previously from $24.00) on shares of Teck Resources in a research note on Sunday, June 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-four have issued a buy rating to the stock. Teck Resources has a consensus rating of “Buy” and an average target price of $31.19.

Teck Resources (TECK) traded down 2.36% during mid-day trading on Friday, reaching $21.06. The company’s stock had a trading volume of 7,352,492 shares. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 7.46 and a beta of 1.25. The firm’s 50 day moving average price is $23.19 and its 200 day moving average price is $20.45. Teck Resources has a 12-month low of $14.56 and a 12-month high of $26.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. The company’s revenue for the quarter was up 62.0% on a year-over-year basis. On average, equities analysts predict that Teck Resources will post $3.55 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Letko Brosseau & Associates Inc. purchased a new stake in Teck Resources during the 2nd quarter worth about $237,787,000. Impala Asset Management LLC purchased a new stake in Teck Resources during the 2nd quarter worth about $217,614,000. Capital Research Global Investors purchased a new stake in Teck Resources during the 2nd quarter worth about $187,626,000. Vanguard Group Inc. purchased a new stake in Teck Resources during the 2nd quarter worth about $182,655,000. Finally, TD Asset Management Inc. purchased a new stake in Teck Resources during the 2nd quarter worth about $146,189,000. Institutional investors own 46.68% of the company’s stock.

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.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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