Teck Resources (NYSE:TECK) Upgraded by StockNews.com to Hold

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Thursday.

TECK has been the subject of a number of other reports. CIBC increased their price target on Teck Resources from $70.00 to $80.00 and gave the stock an "outperformer" rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $54.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. UBS Group raised shares of Teck Resources from a "neutral" rating to a "buy" rating and boosted their price target for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. TD Securities raised shares of Teck Resources to a "strong-buy" rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets assumed coverage on Teck Resources in a research report on Monday, July 15th. They issued an "outperform" rating on the stock. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Teck Resources presently has an average rating of "Moderate Buy" and a consensus price target of $67.43.

Teck Resources Trading Down 5.5 %

Shares of NYSE TECK traded down $2.72 during midday trading on Thursday, reaching $46.83. 9,389,567 shares of the stock were exchanged, compared to its average volume of 3,446,553. The stock has a market capitalization of $23.70 billion, a P/E ratio of 22.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The company has a 50 day simple moving average of $48.80 and a 200 day simple moving average of $48.74. Teck Resources has a twelve month low of $34.38 and a twelve month high of $55.13.

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

Hedge Funds Weigh In On Teck Resources

Several institutional investors have recently modified their holdings of the business. Frank Rimerman Advisors LLC boosted its holdings in Teck Resources by 0.9% in the third quarter. Frank Rimerman Advisors LLC now owns 105,040 shares of the basic materials company's stock valued at $5,487,000 after purchasing an additional 891 shares during the period. Forsta AP Fonden boosted its stake in shares of Teck Resources by 18.1% in the 3rd quarter. Forsta AP Fonden now owns 93,200 shares of the basic materials company's stock valued at $4,873,000 after buying an additional 14,300 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teck Resources during the third quarter worth about $756,000. Country Club Bank increased its stake in shares of Teck Resources by 25.4% during the third quarter. Country Club Bank now owns 45,654 shares of the basic materials company's stock worth $2,394,000 after buying an additional 9,250 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Teck Resources by 64.4% during the third quarter. Mount Yale Investment Advisors LLC now owns 10,946 shares of the basic materials company's stock worth $572,000 after buying an additional 4,289 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

About Teck Resources

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.