Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “outperform” rating reaffirmed by analysts at Raymond James Financial, Inc. in a research report issued on Tuesday, Marketbeat Ratings reports.
Other analysts have also issued reports about the stock. Bank of America Corporation raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $23.00 price target (down from $24.00) on shares of Teck Resources in a research report on Sunday, June 25th. Clarkson Capital reaffirmed a “buy” rating on shares of Teck Resources in a research report on Friday, May 19th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $38.00 price target (down from $39.00) on shares of Teck Resources in a research report on Friday, June 16th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have issued a buy rating to the company. Teck Resources presently has a consensus rating of “Buy” and a consensus target price of $27.03.
Teck Resources (TECK) opened at 23.55 on Tuesday. Teck Resources has a 1-year low of $14.56 and a 1-year high of $33.76. The company has a 50-day moving average of $20.23 and a 200-day moving average of $20.34. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 8.36 and a beta of 1.27.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. Teck Resources’s revenue for the quarter was up 62.0% compared to the same quarter last year. On average, equities analysts predict that Teck Resources will post $3.17 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in TECK. 1st Global Advisors Inc. acquired a new position in Teck Resources during the second quarter valued at approximately $601,000. Verition Fund Management LLC acquired a new position in Teck Resources during the second quarter valued at approximately $399,000. BW Gestao de Investimentos Ltda. acquired a new position in Teck Resources during the second quarter valued at approximately $5,199,000. Scotia Capital Inc. acquired a new position in Teck Resources during the second quarter valued at approximately $7,785,000. Finally, Bank of Nova Scotia acquired a new position in Teck Resources during the second quarter valued at approximately $27,111,000. Institutional investors and hedge funds own 47.20% of the company’s stock.
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.
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