Teck Resources (TECK) Upgraded at ValuEngine

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

Several other analysts have also weighed in on the company. Scotiabank raised Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday, January 8th. CIBC started coverage on Teck Resources in a report on Friday, November 17th. They issued a “sector outperform” rating for the company. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, November 9th. Citigroup lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Finally, BidaskClub lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Teck Resources presently has a consensus rating of “Buy” and an average price target of $30.94.

Shares of Teck Resources (NYSE:TECK) traded up $1.14 during trading on Tuesday, reaching $29.63. The company had a trading volume of 6,130,000 shares, compared to its average volume of 4,490,000. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. The company has a market capitalization of $17,030.00, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.14 and a beta of 1.40. Teck Resources has a 1 year low of $14.56 and a 1 year high of $30.79.

Several large investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Teck Resources by 2.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,600 shares of the basic materials company’s stock valued at $1,511,000 after purchasing an additional 2,400 shares during the last quarter. Comerica Bank grew its holdings in shares of Teck Resources by 6.9% during the third quarter. Comerica Bank now owns 63,544 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 4,108 shares during the last quarter. Oak Associates Ltd. OH grew its holdings in shares of Teck Resources by 5.3% during the third quarter. Oak Associates Ltd. OH now owns 83,874 shares of the basic materials company’s stock valued at $1,769,000 after purchasing an additional 4,250 shares during the last quarter. Bartlett & Co. LLC bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $118,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Teck Resources by 14.4% during the third quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 4,514 shares during the last quarter. 52.93% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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