Teck Resources Ltd. (TCK) Trading Down 4.1%
Teck Resources Ltd. (NYSE:TCK) fell 4.1% on Friday . The stock traded as low as $15.83 and last traded at $15.83, with a volume of 3,639,203 shares changing hands. The stock had previously closed at $16.50.
Several brokerages have recently weighed in on TCK. Deutsche Bank AG reiterated a “sell” rating on shares of Teck Resources in a research report on Thursday, July 7th. CIBC reiterated a “sector outperform” rating and set a $16.00 price target on shares of Teck Resources in a research report on Sunday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Teck Resources in a research report on Wednesday, June 8th. FBR & Co upped their price target on Teck Resources from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Wednesday, July 20th. Finally, Scotiabank restated a “sector perform” rating and issued a $10.00 price objective (up from $9.00) on shares of Teck Resources in a research report on Thursday, April 21st. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Teck Resources currently has an average rating of “Hold” and an average price target of $13.00.
The firm’s 50-day moving average is $14.77 and its 200 day moving average is $10.22. The company’s market capitalization is $9.11 billion.
Teck Resources (NYSE:TCK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. During the same period last year, the company earned $0.14 EPS. The business earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. The business’s revenue was down 13.0% compared to the same quarter last year. Analysts anticipate that Teck Resources Ltd. will post $0.38 EPS 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 13F 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 at the end of the most recent quarter.
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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