Teck Resources Limited (NYSE:TECK) Receives Average Rating of "Moderate Buy" from Analysts

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK has received an average rating of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $67.43.

TECK has been the subject of several research reports. Eight Capital cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 11th. Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Teck Resources from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Benchmark reiterated a "buy" rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. Finally, CIBC boosted their price objective on Teck Resources from $70.00 to $80.00 and gave the company an "outperformer" rating in a research report on Friday, July 12th.

Teck Resources Price Performance

Shares of TECK stock traded up $0.61 during midday trading on Tuesday, reaching $50.32. 2,199,562 shares of the company traded hands, compared to its average volume of 3,423,556. The firm's 50 day simple moving average is $48.67 and its two-hundred day simple moving average is $48.71. The firm has a market cap of $25.71 billion, a PE ratio of 21.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities research analysts expect that Teck Resources will post 1.94 EPS for the current fiscal year.

Institutional Trading of Teck Resources

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Teck Resources by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company's stock valued at $765,493,000 after buying an additional 290,034 shares during the period. Janus Henderson Group PLC boosted its holdings in Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company's stock worth $394,178,000 after buying an additional 203,607 shares during the period. CIBC Asset Management Inc lifted its holdings in Teck Resources by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company's stock worth $303,161,000 after purchasing an additional 90,089 shares in the last quarter. Principal Financial Group Inc. grew its stake in Teck Resources by 7.3% during the second quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company's stock valued at $292,441,000 after acquiring an additional 416,070 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Teck Resources by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company's stock worth $280,655,000 after buying an additional 546,801 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.