Teck Resources Ltd. (TCK) Reaches New 12-Month High at $16.94
Teck Resources Ltd. (NYSE:TCK) shares reached a new 52-week high on Monday . The stock traded as high as $16.94 and last traded at $16.62, with a volume of 4,367,302 shares traded. The stock had previously closed at $15.90.
TCK has been the subject of several research analyst reports. FBR & Co restated a “hold” rating on shares of Teck Resources in a research report on Monday, May 2nd. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Thursday, April 28th. Raymond James Financial Inc. upgraded shares of Teck Resources from an “underperform” rating to a “market perform” rating in a report on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $16.00 price objective on shares of Teck Resources in a report on Tuesday, July 19th. Finally, TheStreet reiterated a “sell” rating on shares of Teck Resources in a report on Monday, May 30th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.47.
The company’s market capitalization is $9.27 billion. The firm has a 50-day moving average price of $13.96 and a 200-day moving average price of $9.68.
Teck Resources (NYSE:TCK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Equities analysts expect that Teck Resources Ltd. will post $0.35 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. raised its stake in shares of Teck Resources Ltd. (NYSE:TCK) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 865,420 shares of the company’s stock after buying an additional 27,400 shares during the period. I.G. Investment Management LTD. owned approximately 0.15% of Teck Resources worth $3,342,000 as of its most recent SEC filing.
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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