Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “buy” rating restated by analysts at MKM Partners in a research note issued on Wednesday. They currently have a $30.00 price target on the basic materials company’s stock. MKM Partners’ price target points to a potential upside of 37.61% from the company’s previous close.

Several other brokerages have also recently weighed in on TECK. ValuEngine cut Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Teck Resources in a report on Tuesday, August 15th. Axiom Securities initiated coverage on Teck Resources in a report on Monday. They issued a “sell” rating and a $16.00 target price for the company. Zacks Investment Research cut Teck Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $38.00 target price (down from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have given a buy rating to the company’s stock. Teck Resources presently has an average rating of “Buy” and an average price target of $29.39.

Shares of Teck Resources (TECK) traded down 0.27% during mid-day trading on Wednesday, reaching $21.80. The company had a trading volume of 7,179,641 shares. Teck Resources has a 1-year low of $14.56 and a 1-year high of $26.60. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 7.72 and a beta of 1.25. The firm has a 50-day moving average price of $23.20 and a 200-day moving average price of $20.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data 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. The company had revenue of $2.82 billion for 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%. The company’s revenue for the quarter was up 62.0% compared to the same quarter last year. Equities analysts expect that Teck Resources will post $3.50 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of the business. Letko Brosseau & Associates Inc. purchased a new position in Teck Resources during the second quarter worth approximately $237,787,000. Impala Asset Management LLC purchased a new position in Teck Resources during the second quarter worth approximately $217,614,000. Capital Research Global Investors purchased a new position in Teck Resources during the second quarter worth approximately $187,626,000. Vanguard Group Inc. purchased a new position in Teck Resources during the second quarter worth approximately $182,655,000. Finally, TD Asset Management Inc. purchased a new position in Teck Resources during the second quarter worth approximately $146,189,000. Institutional investors own 46.67% 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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