Teck Resources Ltd (NYSE:TECK) Given Average Recommendation of “Moderate Buy” by Brokerages

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.3333.

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. UBS Group reiterated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TECK. Principal Financial Group Inc. raised its stake in shares of Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after purchasing an additional 4,474,637 shares in the last quarter. Norges Bank bought a new position in shares of Teck Resources in the second quarter valued at $437,657,000. Northwest & Ethical Investments L.P. increased its holdings in Teck Resources by 16.1% during the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after buying an additional 21,900 shares during the last quarter. Invesco Ltd. increased its holdings in Teck Resources by 10.8% during the second quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock worth $224,753,000 after buying an additional 543,554 shares during the last quarter. Finally, Swiss National Bank raised its position in Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after acquiring an additional 80,300 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Up 2.8%

NYSE:TECK opened at $54.99 on Monday. Teck Resources has a 1 year low of $28.32 and a 1 year high of $60.71. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 0.55 and a beta of 0.80. The stock has a 50-day moving average price of $49.11 and a two-hundred day moving average price of $42.36.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.