Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by equities research analysts at TD Securities to a “buy” rating in a report released on Wednesday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Scotiabank upped their target price on shares of Teck Resources from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Canaccord Genuity upped their target price on shares of Teck Resources from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Citigroup upped their target price on shares of Teck Resources from $10.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Royal Bank of Canada restated a “buy” rating and set a $20.00 target price on shares of Teck Resources in a research report on Monday, June 29th. Finally, Credit Suisse Group increased their price objective on shares of Teck Resources from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.53.

Shares of NYSE TECK traded up $0.59 during midday trading on Wednesday, reaching $14.30. The stock had a trading volume of 77,596 shares, compared to its average volume of 4,854,299. The stock has a 50-day moving average of $11.47 and a 200-day moving average of $9.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.64 and a current ratio of 1.52. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of -10.49, a price-to-earnings-growth ratio of 6.44 and a beta of 1.53. Teck Resources has a 12-month low of $5.60 and a 12-month high of $19.40.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.20. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Teck Resources had a negative net margin of 10.04% and a positive return on equity of 3.65%. The company’s revenue for the quarter was down 45.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, analysts forecast that Teck Resources will post 0.61 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in TECK. Amundi Pioneer Asset Management Inc. increased its stake in Teck Resources by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 152,124 shares during the period. Russell Investments Group Ltd. increased its stake in Teck Resources by 16.0% in the 1st quarter. Russell Investments Group Ltd. now owns 93,326 shares of the basic materials company’s stock worth $699,000 after buying an additional 12,860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Teck Resources by 5.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 110,281 shares of the basic materials company’s stock worth $827,000 after buying an additional 5,715 shares during the period. Oppenheimer & Co. Inc. increased its stake in Teck Resources by 54.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 67,311 shares of the basic materials company’s stock worth $509,000 after buying an additional 23,658 shares during the period. Finally, Aigen Investment Management LP increased its stake in Teck Resources by 3,775.5% in the 1st quarter. Aigen Investment Management LP now owns 124,868 shares of the basic materials company’s stock worth $944,000 after buying an additional 121,646 shares during the period. Hedge funds and other institutional investors own 45.84% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

See Also: What is Put Option Volume?

The Fly

Analyst Recommendations for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.