Teck Resources Ltd. (TCK) Stock Price Down 1.5%
Teck Resources Ltd. (NYSE:TCK)’s share price fell 1.5% during trading on Monday . The company traded as low as $17.93 and last traded at $17.99, with a volume of 6,484,390 shares traded. The stock had previously closed at $18.26.
A number of research firms recently commented on TCK. Zacks Investment Research upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Saturday, July 9th. Raymond James Financial Inc. reiterated a “market perform” rating and set a $21.00 price target (up previously from $19.00) on shares of Teck Resources in a report on Thursday, August 25th. Barclays PLC reiterated an “underweight” rating on shares of Teck Resources in a report on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “hold” rating on shares of Teck Resources in a report on Tuesday, June 28th. Finally, Morgan Stanley upgraded Teck Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $7.00 to $18.00 in a report on Thursday, September 15th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.81.
The company’s 50 day moving average is $16.53 and its 200 day moving average is $12.14. The company’s market cap is $10.32 billion.
Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue was down 13.0% compared to the same quarter last year. On average, equities analysts predict that Teck Resources Ltd. will post $0.45 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in TCK. Advisor Group Inc. acquired a new stake in Teck Resources during the second quarter valued at $105,000. Macquarie Group Ltd. acquired a new position in shares of Teck Resources during the second quarter valued at approximately $150,000. Commonwealth Equity Services Inc boosted its position in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares during the period. Oak Associates Ltd. OH boosted its position in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the period. Finally, Sprott Inc. bought a new position in Teck Resources during the second quarter valued at $395,000. Institutional investors and hedge funds own 47.23% of the company’s stock.
Teck Resources Company Profile
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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