Teck Resources (NYSE:TECK) PT Raised to $50.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price hoisted by analysts at JPMorgan Chase & Co. from $44.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 4.76% from the company’s current price.

Other research analysts have also issued research reports about the stock. Benchmark boosted their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Finally, UBS Group began coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.36.

Teck Resources Trading Up 1.1 %

NYSE TECK opened at $47.73 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The company has a market capitalization of $24.37 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 6.49 and a beta of 1.15. The company’s 50-day simple moving average is $42.79 and its two-hundred day simple moving average is $40.12. Teck Resources has a one year low of $34.38 and a one year high of $50.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. Equities analysts forecast that Teck Resources will post 3.51 EPS for the current fiscal year.

Institutional Trading of Teck Resources

A number of hedge funds have recently added to or reduced their stakes in the company. Quattro Financial Advisors LLC purchased a new stake in Teck Resources during the first quarter worth $927,000. Hexagon Capital Partners LLC lifted its holdings in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 386 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in Teck Resources during the first quarter valued at $223,000. Ervin Investment Management LLC purchased a new position in Teck Resources during the first quarter valued at $298,000. Finally, Pacifica Partners Inc. lifted its holdings in Teck Resources by 5.6% during the first quarter. Pacifica Partners Inc. now owns 30,343 shares of the basic materials company’s stock valued at $1,309,000 after purchasing an additional 1,620 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.