Teck Resources Ltd. (TCK) Trading Down 4.1%
Teck Resources Ltd. (NYSE:TCK) was down 4.1% on Monday . The stock traded as low as $15.15 and last traded at $15.28, with a volume of 4,083,307 shares traded. The stock had previously closed at $15.93.
Several equities research analysts have weighed in on TCK shares. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, April 28th. Paradigm Capital restated a “buy” rating and set a $17.00 target price (up previously from $7.75) on shares of Teck Resources in a research report on Thursday, May 5th. Goldman Sachs Group Inc. began coverage on Teck Resources in a research report on Thursday, May 19th. They set a “buy” rating and a $12.00 target price for the company. TD Securities restated a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Teck Resources in a research report on Friday, July 1st. Finally, Clarkson Capital upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, July 18th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Teck Resources presently has an average rating of “Hold” and an average price target of $12.47.
The stock’s 50-day moving average is $13.25 and its 200-day moving average is $9.18. The stock’s market cap is $8.76 billion.
Teck Resources (NYSE:TCK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.33 billion. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, analysts predict that Teck Resources Ltd. will post $0.30 earnings per share for the current year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. increased its position in shares of Teck Resources Ltd. (NYSE:TCK) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 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.