Teck Resources (TECK) Stock Rating Upgraded by Scotiabank

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by equities researchers at Scotiabank from an “outperform” rating to a “focus list” rating in a report issued on Monday, The Fly reports.

Several other brokerages have also recently issued reports on TECK. MKM Partners reiterated a “buy” rating and set a $40.00 target price on shares of Teck Resources in a report on Tuesday, September 12th. ValuEngine upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Citigroup cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, BidaskClub upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.94.

Shares of Teck Resources (TECK) traded up $0.22 during trading on Monday, reaching $27.33. 4,500,000 shares of the company’s stock traded hands, compared to its average volume of 4,337,825. 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 one year low of $14.56 and a one year high of $27.45. The company has a market cap of $16,020.00, a PE ratio of 8.01, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31.

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $124,000. Tower Research Capital LLC TRC bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $164,000. Investment Centers of America Inc. bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $194,000. Private Advisor Group LLC bought a new stake in shares of Teck Resources in the 3rd quarter valued at about $200,000. Finally, Shelton Capital Management bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 54.25% of the company’s stock.

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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.