Scotiabank Upgrades Teck Resources (TECK) to Focus List

Scotiabank upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from an outperform rating to a focus list rating in a research report report published on Monday morning, The Fly reports.

Several other research firms have also issued reports on TECK. MKM Partners reiterated a buy rating and set a $40.00 target price on shares of Teck Resources in a report on Tuesday, September 12th. ValuEngine upgraded shares of Teck Resources from a hold rating to a buy rating in a report on Friday, December 1st. Citigroup lowered shares of Teck Resources from a buy rating to a neutral rating in a report on Monday, December 4th. Zacks Investment Research lowered shares of Teck Resources from a buy rating to a hold rating in a report on Friday, October 6th. Finally, BidaskClub upgraded shares of Teck Resources from a buy rating to a strong-buy rating in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Teck Resources presently has an average rating of Buy and an average target price of $28.94.

Teck Resources (NYSE TECK) traded down $0.09 during mid-day trading on Monday, hitting $28.51. 5,770,000 shares of the stock traded hands, compared to its average volume of 3,930,000. Teck Resources has a 1 year low of $14.56 and a 1 year high of $28.87. The stock has a market capitalization of $16,490.00, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

The company also recently disclosed a special dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.3141 dividend. The ex-dividend date was Thursday, December 14th. This represents a yield of 0.72%. Teck Resources’s payout ratio is currently 4.69%.

A number of hedge funds and other institutional investors have recently made changes to their positions in TECK. Bank of New York Mellon Corp purchased a new position in Teck Resources in the 2nd quarter worth approximately $10,365,000. Comerica Bank purchased a new position in Teck Resources in the 2nd quarter worth approximately $1,170,000. Westpac Banking Corp purchased a new position in Teck Resources in the 2nd quarter worth approximately $766,000. JPMorgan Chase & Co. purchased a new position in Teck Resources in the 2nd quarter worth approximately $30,203,000. Finally, Schroder Investment Management Group purchased a new position in Teck Resources in the 2nd quarter worth approximately $30,596,000. Institutional investors own 54.25% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Scotiabank Upgrades Teck Resources (TECK) to Focus List” was first posted by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/10/scotiabank-upgrades-teck-resources-teck-to-focus-list.html.

About Teck Resources

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.

The Fly

Analyst Recommendations for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply