Teck Resources Ltd. (TCK) Upgraded at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Teck Resources Ltd. (NYSE:TCK) from a sell rating to a hold rating in a research report released on Monday. The brokerage currently has $20.00 price objective on the stock, up from their previous price objective of $11.50.
TCK has been the subject of several other research reports. Sanford C. Bernstein restated a sell rating and issued a $10.00 price target on shares of Teck Resources in a research note on Friday, August 19th. TD Securities restated a buy rating and issued a $24.00 price target on shares of Teck Resources in a research note on Thursday, August 25th. Berenberg Bank initiated coverage on Teck Resources in a research note on Friday, August 19th. They issued a sell rating and a $10.00 price target for the company. 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 research note on Saturday, July 9th. Finally, BMO Capital Markets restated a hold rating and issued a $16.00 price target on shares of Teck Resources in a research note on Wednesday, August 31st. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Teck Resources has an average rating of Hold and an average price target of $15.74.
Shares of Teck Resources (NYSE:TCK) opened at 17.81 on Monday. Teck Resources has a one year low of $2.56 and a one year high of $19.08. The company’s 50-day moving average price is $17.20 and its 200-day moving average price is $12.92. The stock’s market cap is $10.27 billion.
Teck Resources (NYSE:TCK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 business earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources will post $0.56 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. acquired a new position in Teck Resources during the second quarter worth $105,000. Macquarie Group Ltd. acquired a new position in Teck Resources during the second quarter worth $150,000. Commonwealth Equity Services Inc raised 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 worth $253,000 after buying an additional 900 shares during the period. Oak Associates Ltd. OH raised 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 worth $317,000 after buying an additional 400 shares during the period. Finally, Sprott Inc. acquired a new position in Teck Resources during the second quarter worth $395,000. 47.23% of the stock is 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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