Teck Resources (TECK) Given a $36.00 Price Target by Bank of America Analysts

Teck Resources (NYSE:TECK) (TSE:TECK) received a $36.00 price target from Bank of America in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America’s target price would suggest a potential upside of 35.39% from the company’s current price.

Other equities analysts have also issued reports about the company. B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st. Berenberg Bank reaffirmed a “buy” rating and issued a $27.50 price objective on shares of Teck Resources in a research note on Tuesday, October 31st. BidaskClub lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.94.

Teck Resources (NYSE:TECK) traded up $0.20 during trading on Friday, hitting $26.59. The company had a trading volume of 2,580,084 shares, compared to its average volume of 4,303,084. 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 firm has a market capitalization of $15,290.00, a price-to-earnings ratio of 7.93, a P/E/G ratio of 1.11 and a beta of 1.40. Teck Resources has a one year low of $14.56 and a one year high of $30.79.

A number of hedge funds have recently modified their holdings of TECK. Vanguard Group Inc. bought a new stake in Teck Resources in the second quarter worth approximately $182,655,000. Dimensional Fund Advisors LP bought a new stake in shares of Teck Resources during the second quarter valued at approximately $65,223,000. Allianz Asset Management GmbH increased its holdings in shares of Teck Resources by 104.3% during the third quarter. Allianz Asset Management GmbH now owns 2,225,492 shares of the basic materials company’s stock valued at $46,748,000 after acquiring an additional 1,136,314 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of Teck Resources during the third quarter valued at approximately $23,235,000. Finally, GMT Capital Corp increased its holdings in shares of Teck Resources by 16.0% during the third quarter. GMT Capital Corp now owns 6,404,900 shares of the basic materials company’s stock valued at $135,079,000 after acquiring an additional 882,100 shares in the last quarter. Institutional investors and hedge funds own 52.97% of the company’s stock.

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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.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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