Teck Resources Ltd. (TCK) Trading Down 1.9%
Teck Resources Ltd. (NYSE:TCK) fell 1.9% during mid-day trading on Tuesday . The stock traded as low as $16.74 and last traded at $16.90, with a volume of 4,864,679 shares. The stock had previously closed at $17.23.
Several brokerages have issued reports on TCK. Sanford C. Bernstein reaffirmed a “sell” rating and set a $10.00 price target on shares of Teck Resources in a research note on Friday, August 19th. Berenberg Bank began coverage on Teck Resources in a research note on Friday, August 19th. They set a “sell” rating and a $10.00 price target for the company. Royal Bank Of Canada lowered Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $16.00 to $23.00 in a research note on Friday, August 12th. RBC Capital Markets lowered Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $16.00 to $23.00 in a research note on Friday, August 12th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Teck Resources in a research note on Wednesday. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $13.84.
The stock’s market cap is $9.45 billion. The firm has a 50-day moving average price of $15.40 and a 200-day moving average price of $11.06.
Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm earned $1.74 billion during the quarter, compared to analyst estimates of $1.33 billion. The company’s revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. Analysts expect that Teck Resources Ltd. will post $0.39 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. increased its position in Teck Resources Ltd. (NYSE:TCK) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the 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 about 0.15% of Teck Resources worth $3,342,000 at the end of the most recent reporting period.
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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