Teck Resources Ltd (NYSE:TECK) Given Consensus Recommendation of “Buy” by Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have earned an average rating of “Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $30.40.

Several analysts recently commented on the company. B. Riley reiterated a “buy” rating on shares of Teck Resources in a report on Friday, July 12th. Macquarie began coverage on Teck Resources in a report on Wednesday, July 10th. They set a “neutral” rating on the stock. MKM Partners restated a “buy” rating and set a $28.00 price target (up from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. TD Securities cut Teck Resources to a “buy” rating in a report on Monday, July 22nd. Finally, ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

TECK stock traded down $0.07 during trading on Friday, hitting $16.55. The company had a trading volume of 2,652,600 shares, compared to its average volume of 3,169,553. The business has a 50-day moving average of $20.55 and a 200-day moving average of $21.99. Teck Resources has a one year low of $16.43 and a one year high of $25.82. The stock has a market cap of $9.25 billion, a PE ratio of 5.27 and a beta of 1.38. The company has a current ratio of 2.47, a quick ratio of 1.58 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.04). Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. Research analysts forecast that Teck Resources will post 2.86 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Maverick Capital Ltd. raised its holdings in shares of Teck Resources by 5.1% during the 2nd quarter. Maverick Capital Ltd. now owns 257,990 shares of the basic materials company’s stock valued at $5,949,000 after buying an additional 12,550 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Teck Resources by 5.7% during the 2nd quarter. Verition Fund Management LLC now owns 26,419 shares of the basic materials company’s stock valued at $609,000 after buying an additional 1,419 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Teck Resources by 42.6% during the 2nd quarter. Eaton Vance Management now owns 71,923 shares of the basic materials company’s stock valued at $1,659,000 after buying an additional 21,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Teck Resources by 105.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 742,784 shares of the basic materials company’s stock valued at $17,129,000 after buying an additional 381,908 shares in the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new position in shares of Teck Resources during the 2nd quarter valued at about $547,000. 54.84% of the stock is owned by hedge funds and other institutional investors.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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