Teck Resources (NYSE:TECK) Downgraded by Wall Street Zen to “Buy”

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Other research analysts have also recently issued research reports about the company. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Teck Resources in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.00.

Teck Resources Trading Up 0.8%

Teck Resources stock opened at $60.30 on Friday. Teck Resources has a 52-week low of $30.98 and a 52-week high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.78 and a beta of 0.92. The firm has a 50-day moving average price of $61.46 and a two-hundred day moving average price of $57.49.

Hedge Funds Weigh In On Teck Resources

Several hedge funds have recently modified their holdings of TECK. Welch Group LLC lifted its holdings in shares of Teck Resources by 3.5% in the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after buying an additional 199 shares during the period. Geneos Wealth Management Inc. grew its holdings in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares during the period. Compound Planning Inc. grew its holdings in Teck Resources by 1.0% during the fourth quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after acquiring an additional 333 shares during the period. 44 Wealth Management LLC raised its position in Teck Resources by 1.3% in the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after acquiring an additional 411 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after acquiring an additional 452 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

More Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

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.