Teck Resources Ltd. (TCK) Stock Price Down 4.5%
Teck Resources Ltd. (NYSE:TCK)’s share price traded down 4.5% during mid-day trading on Friday . The stock traded as low as $15.58 and last traded at $15.68, with a volume of 3,907,093 shares changing hands. The stock had previously closed at $16.42.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of 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. Raymond James Financial Inc. raised shares of Teck Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Royal Bank Of Canada downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $16.00 to $23.00 in a research note on Friday. RBC Capital Markets downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday. Finally, FBR & Co reaffirmed a “hold” rating on shares of Teck Resources in a research report on Wednesday, June 15th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.94.
The company’s 50-day moving average price is $14.19 and its 200-day moving average price is $9.77. The company’s market cap is $9.09 billion.
Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. Analysts predict that Teck Resources Ltd. will post $0.36 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Teck Resources stock. BNP Paribas Arbitrage SA increased its stake in Teck Resources Ltd. (NYSE:TCK) by 40.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,765 shares of the company’s stock after buying an additional 130,631 shares during the period. BNP Paribas Arbitrage SA owned 0.08% of Teck Resources worth $1,740,000 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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