CIBC began coverage on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a report released on Friday, MarketBeat.com reports. The brokerage set a “sector outperform” rating on the basic materials company’s stock.

TECK has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BMO Capital Markets upped their target price on shares of Teck Resources from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, September 25th. Bank of America Corporation upped their target price on shares of Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Raymond James Financial, Inc. restated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. Finally, MKM Partners restated a “buy” rating and set a $28.00 target price (up from $25.00) on shares of Teck Resources in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $31.14.

Teck Resources (NYSE:TECK) traded up $0.71 during trading on Friday, reaching $21.93. 5,121,968 shares of the company’s stock were exchanged, compared to its average volume of 4,630,000. The company has a current ratio of 2.17, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. Teck Resources has a 52 week low of $14.56 and a 52 week high of $33.76. The firm has a market cap of $12,680.00, a P/E ratio of 5.76, a PEG ratio of 0.81 and a beta of 1.27.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Teck Resources by 2.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,600 shares of the basic materials company’s stock worth $1,511,000 after purchasing an additional 2,400 shares in the last quarter. Comerica Bank increased its stake in Teck Resources by 6.9% during the 3rd quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock worth $1,319,000 after purchasing an additional 4,108 shares in the last quarter. Oak Associates Ltd. OH increased its stake in Teck Resources by 5.3% during the 3rd quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock worth $1,769,000 after purchasing an additional 4,250 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Teck Resources by 14.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 4,514 shares in the last quarter. Finally, Capital Analysts LLC bought a new stake in Teck Resources during the 2nd quarter worth approximately $100,000. 45.80% of the stock is owned by institutional investors and hedge funds.

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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