Teck Resources Ltd. (TCK) Shares Down 1.9%
Shares of Teck Resources Ltd. (NYSE:TCK) fell 1.9% during mid-day trading on Tuesday . The company traded as low as $16.74 and last traded at $16.90, with a volume of 4,864,679 shares changing hands. The stock had previously closed at $17.23.
A number of research firms recently issued reports on TCK. Raymond James Financial Inc. raised Teck Resources from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 4th. FBR & Co reaffirmed a “hold” rating on shares of Teck Resources in a research report on Wednesday, June 15th. Clarkson Capital raised Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. RBC Capital Markets downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $16.00 to $23.00 in a research report on Friday, August 12th. Finally, Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. 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. Teck Resources has an average rating of “Hold” and an average price target of $13.84.
The firm has a 50 day moving average of $15.26 and a 200-day moving average of $10.94. The firm’s market capitalization is $9.63 billion.
Teck Resources (NYSE:TCK) last posted 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. The firm earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business posted $0.14 EPS. The company’s quarterly revenue was down 13.0% on a year-over-year basis. On average, equities analysts anticipate that Teck Resources Ltd. will post $0.39 EPS for the current fiscal year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. increased its stake in Teck Resources Ltd. (NYSE:TCK) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.15% of Teck Resources worth $3,342,000 as of its most recent filing with the SEC.
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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