UBS Group Downgrades Teck Resources (NYSE:TECK) to Neutral

UBS Group downgraded shares of Teck Resources (NYSE:TECK - Free Report) TSE: TECK from a buy rating to a neutral rating in a report published on Monday, Marketbeat Ratings reports.

Other equities analysts have also issued reports about the company. Citigroup raised Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Scotiabank lifted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets assumed coverage on Teck Resources in a research note on Monday, July 15th. They issued an "outperform" rating on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.29.

Teck Resources Trading Down 2.5 %

Teck Resources stock traded down $1.20 during trading hours on Monday, hitting $47.49. The stock had a trading volume of 1,261,490 shares, compared to its average volume of 3,391,832. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 73.77 and a beta of 1.04. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business's 50 day simple moving average is $48.66 and its 200-day simple moving average is $48.79. Teck Resources has a one year low of $34.56 and a one year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources's revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts predict that Teck Resources will post 1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently made changes to their positions in TECK. Susquehanna Fundamental Investments LLC purchased a new position in shares of Teck Resources in the 1st quarter worth approximately $485,000. Vanguard Group Inc. raised its stake in shares of Teck Resources by 1.8% during 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 purchasing an additional 290,034 shares during the period. Country Club Bank purchased a new stake in Teck Resources during the 2nd quarter worth about $1,747,000. Atria Investments Inc bought a new position in Teck Resources in the 1st quarter worth about $1,141,000. Finally, Intech Investment Management LLC purchased a new position in Teck Resources during the 1st quarter valued at about $1,086,000. Institutional investors and hedge funds 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.