Cormark Weighs in on Teck Resources Ltd.’s Q1 2017 Earnings (TCK)
Teck Resources Ltd. (NYSE:TCK) – Stock analysts at Cormark upped their Q1 2017 earnings estimates for Teck Resources in a research note issued on Monday. Cormark analyst A. Meikle now expects that the firm will post earnings per share of $0.40 for the quarter, up from their prior forecast of $0.16. Cormark also issued estimates for Teck Resources’ Q2 2017 earnings at $0.26 EPS, Q3 2017 earnings at $0.54 EPS, Q4 2017 earnings at $0.57 EPS and FY2017 earnings at $1.76 EPS.
A number of other brokerages also recently issued reports on TCK. Raymond James Financial Inc. reissued a “market perform” rating and issued a $21.00 price target (up from $19.00) on shares of Teck Resources in a report on Thursday, August 25th. Sanford C. Bernstein reaffirmed a “sell” rating and set a $10.00 target price on shares of Teck Resources in a research note on Friday, August 19th. Royal Bank Of Canada downgraded Teck Resources from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $16.00 to $23.00 in a research note on Friday, August 12th. RBC Capital Markets reaffirmed an “outperform” rating and set a $16.00 target price on shares of Teck Resources in a research note on Tuesday, July 19th. Finally, TheStreet reaffirmed a “sell” rating on shares of Teck Resources in a research note on Monday, May 30th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.81.
Shares of Teck Resources (NYSE:TCK) opened at 17.03 on Wednesday. The company has a 50-day moving average price of $16.67 and a 200-day moving average price of $12.22. Teck Resources has a 12 month low of $2.56 and a 12 month high of $19.08. The company’s market capitalization is $9.82 billion.
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. The company earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. Teck Resources’s revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share.
Institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock valued at $1,170,000 after buying an additional 100,700 shares during the last quarter. AMP Capital Investors Ltd raised its stake in Teck Resources by 3.0% in the first quarter. AMP Capital Investors Ltd now owns 278,011 shares of the company’s stock worth $2,180,000 after buying an additional 8,100 shares in the last quarter. Aperio Group LLC raised its stake in Teck Resources by 51.5% in the first quarter. Aperio Group LLC now owns 930,425 shares of the company’s stock worth $7,081,000 after buying an additional 316,288 shares in the last quarter. One Capital Management LLC raised its stake in Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock worth $1,469,000 after buying an additional 26,451 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Teck Resources by 27.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,123 shares of the company’s stock worth $476,000 after buying an additional 7,887 shares in the last quarter. 47.23% of the stock is currently owned by hedge funds and other institutional investors.
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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