Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a report issued on Tuesday. They presently have a $27.50 price objective on the basic materials company’s stock. Berenberg Bank’s target price points to a potential upside of 34.54% from the stock’s previous close.

Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Bank of America Corp increased their target price on shares of Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, BMO Capital Markets increased their target price on shares of Teck Resources from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company’s stock. Teck Resources has an average rating of “Buy” and a consensus target price of $31.12.

Teck Resources (NYSE:TECK) traded down 1.54% on Tuesday, hitting $20.44. 3,751,563 shares of the stock traded hands. Teck Resources has a 52 week low of $14.56 and a 52 week high of $33.76. The firm has a market capitalization of $11.81 billion, a PE ratio of 7.03 and a beta of 1.21. The stock has a 50 day moving average of $22.02 and a 200 day moving average of $20.56.

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Several institutional investors and hedge funds have recently bought and sold shares of TECK. Letko Brosseau & Associates Inc. purchased a new position in shares of Teck Resources in the second quarter worth about $237,787,000. Impala Asset Management LLC purchased a new position in shares of Teck Resources in the second quarter worth about $217,614,000. Capital Research Global Investors purchased a new position in shares of Teck Resources in the second quarter worth about $187,626,000. Vanguard Group Inc. purchased a new position in shares of Teck Resources in the second quarter worth about $182,655,000. Finally, TD Asset Management Inc. purchased a new position in shares of Teck Resources in the second quarter worth about $146,189,000. Hedge funds and other institutional investors own 47.24% of the company’s stock.

About Teck Resources

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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