Teck Resources Ltd (NYSE:TECK) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.80.

TECK has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Weiss Ratings downgraded Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Stifel Nicolaus boosted their price objective on shares of Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd.

Teck Resources Price Performance

TECK traded up $0.13 on Friday, hitting $59.03. 2,468,624 shares of the company were exchanged, compared to its average volume of 2,619,572. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. The business’s fifty day moving average is $66.57 and its 200 day moving average is $63.03. Teck Resources has a fifty-two week low of $38.00 and a fifty-two week high of $72.56. The firm has a market capitalization of $28.52 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.40. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The company’s revenue for the quarter was up 78.2% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. As a group, sell-side analysts anticipate that Teck Resources will post 4.32 EPS for the current year.

Institutional Trading of Teck Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in shares of Teck Resources by 17.1% during the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock worth $1,139,051,000 after purchasing an additional 3,211,985 shares during the period. HBK Investments L P boosted its holdings in shares of Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after purchasing an additional 4,188,029 shares during the last quarter. Temasek Holdings Private Ltd boosted its holdings in shares of Teck Resources by 7.1% during the first quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company’s stock worth $294,015,000 after purchasing an additional 378,069 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Teck Resources by 48.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock valued at $272,955,000 after purchasing an additional 1,720,066 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Teck Resources by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company’s stock valued at $268,261,000 after purchasing an additional 28,531 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.