Teck Resources Ltd. (TCK) Trading Up 3.9%
Shares of Teck Resources Ltd. (NYSE:TCK) were up 3.9% during trading on Thursday . The stock traded as high as $16.40 and last traded at $16.38, with a volume of 3,737,954 shares changing hands. The stock had previously closed at $15.76.
Several equities analysts have issued reports on TCK shares. TD Securities reaffirmed a “buy” rating and set a $20.00 price objective (up from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Paradigm Capital reaffirmed a “buy” rating and set a $17.00 price objective (up from $7.75) on shares of Teck Resources in a report on Thursday, May 5th. Goldman Sachs Group Inc. started coverage on shares of Teck Resources in a report on Thursday, May 19th. They set a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Saturday, July 9th. Finally, Clarkson Capital raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, July 18th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $13.84.
The firm’s market capitalization is $9.21 billion. The firm’s 50-day moving average price is $15.16 and its 200 day moving average price is $10.74.
Teck Resources (NYSE:TCK) last released its earnings results 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. The firm earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Teck Resources’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. On average, equities analysts expect that Teck Resources Ltd. will post $0.39 EPS for the current fiscal year.
A hedge fund recently raised its stake in Teck Resources stock. I.G. Investment Management LTD. boosted 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 approximately 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.
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