Teck Resources (NYSE:TECK) Downgraded to "Hold" at Deutsche Bank Aktiengesellschaft

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a research note issued on Friday, MarketBeat reports. They presently have a $50.00 target price on the basic materials company's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 5.60% from the company's current price.

A number of other equities analysts also recently weighed in on the stock. TD Securities raised shares of Teck Resources to a "strong-buy" rating in a research note on Tuesday, July 16th. Scotiabank raised their price objective on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Paradigm Capital raised Teck Resources to a "moderate buy" rating in a report on Friday, July 26th. Eight Capital cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on Teck Resources from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Teck Resources Stock Up 1.2 %

Shares of TECK traded up $0.54 on Friday, reaching $47.35. The stock had a trading volume of 2,922,665 shares, compared to its average volume of 3,444,022. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. Teck Resources has a 12-month low of $34.38 and a 12-month high of $55.13. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. The company has a 50-day simple moving average of $48.76 and a 200-day simple moving average of $48.73.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. Sell-side analysts predict that Teck Resources will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TECK. Susquehanna Fundamental Investments LLC bought a new stake in Teck Resources during the first quarter valued at about $485,000. Vanguard Group Inc. boosted its stake in 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 worth $765,493,000 after purchasing an additional 290,034 shares during the period. Country Club Bank purchased a new stake in Teck Resources during the 2nd quarter valued at approximately $1,747,000. Quattro Financial Advisors LLC purchased a new stake in Teck Resources during the 1st quarter valued at approximately $927,000. Finally, Atria Investments Inc bought a new stake in shares of Teck Resources during the first quarter valued at approximately $1,141,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.