Teck Resources Ltd. (TCK) Shares Up 3.9%
Teck Resources Ltd. (NYSE:TCK) shares shot up 3.9% during mid-day trading on Thursday . The stock traded as high as $16.40 and last traded at $16.38, with a volume of 3,737,954 shares traded. The stock had previously closed at $15.76.
Several brokerages have issued reports on TCK. Sanford C. Bernstein reissued a “sell” rating and issued a $10.00 target price on shares of Teck Resources in a research report on Friday, August 19th. Berenberg Bank began coverage on Teck Resources in a research report on Friday, August 19th. They issued a “sell” rating and a $10.00 target price on the stock. Royal Bank Of Canada cut Teck Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. RBC Capital Markets cut Teck Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $16.00 to $23.00 in a research report on Friday, August 12th. Finally, Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.84.
The firm’s market capitalization is $9.48 billion. The stock’s 50-day moving average price is $15.00 and its 200-day moving average price is $10.61.
Teck Resources (NYSE:TCK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. During the same quarter in the prior year, the company posted $0.14 EPS. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, equities analysts expect that Teck Resources Ltd. will post $0.39 earnings per share for the current year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. raised its position in 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 institutional investor 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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