Teck Resources Ltd (NYSE:TECK) (TSE:TECK) had its price target lifted by equities research analysts at BMO Capital Markets from $40.00 to $41.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 86.70% from the company’s current price.

Several other research analysts have also recently commented on the stock. Deutsche Bank AG restated a “buy” rating and issued a $26.00 target price (up previously from $24.00) on shares of Teck Resources in a research report on Monday. MKM Partners reiterated a “buy” rating and issued a $30.00 price objective on shares of Teck Resources in a report on Wednesday, September 20th. Axiom Securities assumed coverage on shares of Teck Resources in a report on Monday, September 18th. They issued a “sell” rating and a $16.00 price objective for the company. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. Finally, ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Teck Resources has a consensus rating of “Buy” and a consensus target price of $30.37.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.75 billion. The business’s revenue for the quarter was up 62.0% on a year-over-year basis.

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Several large investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. purchased a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $237,787,000. Impala Asset Management LLC purchased a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $217,614,000. Capital Research Global Investors purchased a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $187,626,000. Vanguard Group Inc. purchased a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $182,655,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $146,189,000. Institutional investors and hedge funds own 46.80% 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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