Teck Resources (NYSE:TECK) Given New $67.00 Price Target at Benchmark

Teck Resources (NYSE:TECK) (TSE:TECK) had its price target upped by stock analysts at Benchmark from $48.00 to $67.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Benchmark’s target price suggests a potential upside of 11.87% from the stock’s current price.

TECK has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. National Bank Financial cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.50.

Teck Resources Trading Up 1.0%

NYSE:TECK opened at $59.89 on Monday. Teck Resources has a 12-month low of $28.32 and a 12-month high of $60.75. The firm has a market capitalization of $28.83 billion, a P/E ratio of 29.43, a P/E/G ratio of 0.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The business has a 50 day simple moving average of $52.05 and a 200 day simple moving average of $44.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $0.45 EPS. Teck Resources’s revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Teck Resources will post 1.53 EPS for the current year.

Institutional Trading of Teck Resources

Large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new position in shares of Teck Resources during the 4th quarter valued at about $25,000. Versant Capital Management Inc acquired a new position in Teck Resources during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the last quarter. SouthState Bank Corp acquired a new stake in Teck Resources during the 3rd quarter worth approximately $50,000. Finally, Tobam bought a new stake in shares of Teck Resources in the second quarter valued at about $62,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.