Teck Resources (NYSE:TECK) Now Covered by Analysts at BMO Capital Markets

Stock analysts at BMO Capital Markets initiated coverage on shares of Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK in a report released on Wednesday, Marketbeat reports. The brokerage set an "outperform" rating on the basic materials company's stock.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday. Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. Finally, National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Price Performance

NYSE TECK traded down $0.55 on Wednesday, reaching $32.90. The company had a trading volume of 2,714,398 shares, compared to its average volume of 3,184,502. The stock has a market capitalization of $16.28 billion, a PE ratio of 59.82 and a beta of 0.81. Teck Resources has a 12 month low of $28.32 and a 12 month high of $55.13. 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 firm's 50 day moving average price is $38.60 and its 200 day moving average price is $42.95.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Clarius Group LLC increased its position in shares of Teck Resources by 12.9% during the first quarter. Clarius Group LLC now owns 8,159 shares of the basic materials company's stock worth $297,000 after acquiring an additional 931 shares during the period. PKO Investment Management Joint Stock Co grew its stake in Teck Resources by 40.6% in the first quarter. PKO Investment Management Joint Stock Co now owns 17,324 shares of the basic materials company's stock worth $633,000 after purchasing an additional 5,000 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in Teck Resources by 48.1% during the 1st quarter. FNY Investment Advisers LLC now owns 25,180 shares of the basic materials company's stock worth $917,000 after purchasing an additional 8,180 shares during the period. Union Bancaire Privee UBP SA raised its position in Teck Resources by 10.2% during the 1st quarter. Union Bancaire Privee UBP SA now owns 6,138 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 570 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Teck Resources by 8.4% in the 1st quarter. Fifth Third Bancorp now owns 7,698 shares of the basic materials company's stock worth $280,000 after buying an additional 596 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.